Real estate firms, financial institutions, and potential home buyers realize that lower interest rates help homes move faster. If I were in the market for a new or different home, I would be inclined to wait for interest rates to decline somewhat.
Nobody wants to pay more in home mortgage interest than necessary, and that viewpoint also applies to me. My first step in searching for a home to buy would be to locate a good real estate agent. It is important that my agent is familiar with the area where I want to live and the average value of homes in that neighborhood. It is equally as important that I get pre-qualified at a financial institution that I have a good relationship with.
Once these important first steps are in place, I can regularly check the current interest rate at my bank. My realtor will advise me when a property that fits my criteria is available, and I can only hope a reasonable interest rate allows me to go forward with the purchase.
There are several types of mortgages available ranging from 30 years fixed to a lower rate for shorter term loans. When interest rates drop homes sell sooner, so I will be sure to place an offer promptly on a home I would like to own.
Wait, just how can real estate be both a local and a national market at the same time? This was something a real estate professional asked me at a local meet and greet the night before a property investment convention, and I really had to wonder how much he had been drinking.
I actually found myself explaining to him how the Internet made it possible for investors outside of an area to look at and even buy or rent local pieces of property. That could happen for folks outside the city, outside the state, and even outside the country.
I even recounted a story about how a billionaire in Shanghai had contacted me and had me personally visit a number of properties around town. He was looking for a home when his daughter and son-in-law to live in when they move here for the next year.
I found eight that seemed to fit his criteria, and he bought them all. He said his kid could pick one and he’d use the rest for rental income streams. I didn’t think it’d be worth it since he’s already a billionaire, but he reminded he’s a billionaire because he’s always looking for any chance to make money.
Just how can real estate agents successfully market themselves?
My son asked me this recently when he came over for a Sunday lunch.
The question did not really shock me. It’s his chosen career, but he’s not getting a lot of properties to list. I do know from both him and my own quiet poking around that he is successful and profitable in the listings he has worked with already, but apparently, he’s not getting enough of them to make a steady living.
It also didn’t surprise me that he came to me about this. He saw me and his father do real estate successfully while he was growing up, but that was during the housing bubble. We still deal in property, but it’s more about property management and flipping homes.
I did eventually relent and tell him we’d let him start handling our flips. We are more about the hunting and the working lately than the selling. Maybe if we pass our family name down to him, our contacts and clients will move to him and he’ll start finding more success.
I also told him to start going online a lot more. I know that’s where real estate agents market themselves these days, but I have no clue how to do it.
A few decades ago, a lot of people were abandoning realtors. Instead of working with a real estate agent, they were trying to handle every aspect of the market on their own.
Here’s a quick analysis of the do-it-yourself real estate market. If you’re thinking about buying or selling without a realtor, you’ll definitely want to read this.
Research Shows That Working With A Realtor Saves You Cash
A lot of people choose to work with a realtor because they want to cut back their spending. However, studies have shown that people that work with an agent actually save money.
Sellers are able to get bigger offers when they work with a realtor. Buyers are able to put in more competitive offers for the homes that they buy.
Doing Things Yourself Takes A Lot Of Work
If you’re going to handle everything on your own, you’re going to have to take on a lot of work. After all, being a realtor is a full-time job.
The do-it-yourself market definitely isn’t the right choice for everybody. You should try to look at the market more closely so that you can make a decision that’s a good fit for you.
The real estate market has gone through a lot of changes over the years. Just take a look at our updates at Shecircle Real Estate Investing Pros to see why. Whether you’re going to be buying or selling a home, you’re going to want to make sure you are ready for all of the challenges that await you.
Buyers Market vs. Sellers Market
In some area, the housing market strongly favors sellers. In other area, buyers have the upper hand. Find out what kind of market you’re in before you make a move.
Don’t assume that it will be easy for you to get a home loan. In many cases, people struggle to get approved for a loan. You should take a closer look at lending practices before you make a move.
Plan Ahead And Find A Partner
Do a lot of research before you commit to anything. Hire a real estate agent that will be able to help you through this process.
The real estate market is always changing, but that doesn’t mean it is impossible to manage. As long as you follow the right suggestions, you should be able to accomplish a number of things. Do what you have to do in order to handle the complex market of real estate.
Are you planning on buying or selling a home in Florida? Do you have a Florida home that you want to sell? If you’re going to be entering the real estate market, you’re going to want to learn more about the market.
Buyers Have An Advantage
The Florida real estate market has favored buyers for quite some time, and that hasn’t changed. If you’re going to be buying a home, you should be able to find some real bargains.
If you’re selling a home, you may have to put in extra effort in order to land a sale. Try to put your best foot forward. Do everything you can to entice potential buyers.
You Can Get A Lot For Less
The real estate prices in Florida tend to be a lot lower than they are in other parts of the country. Even if you don’t have a lot of money to spend, you can get a big house.
Location Is Everything
Where you are matters. Your location will have a major impact on the price of your home.
Now that you know more about the Florida real estate market, you’re ready to tackle the market yourself!