Since the economic depression of 2008, the real estate market has been difficult for realtors and buyers and sellers. For those who have cash for a home acquisition, or can obtain finance, there has never been a better time to buy estate. Real Estate is, and will keep on for some time, a buyer’s market.
Since consumers are at the moment a restricted group with ample choices, they can afford to be picky about the properties they buy. These days, I find that several of my consumers want to walk into immediate fairness in the home they obtain.
Home buyers wishing to obtain ‘instant equity’ in a home buy need to prepare themselves in two ways. Primary, a down payment of 5-20% will be necessary depending upon the kind of mortgage they make the grade for. Home buyers as well need to be certain their credit scores are high enough to get lending approval.
Those buyers who have a preference to purchase properties that are not bank owned will aspire to make that acquisition centered on a current appraised value. A savvy home buyer will search for a property in pristine situation. This sort of buyer will most likely suppose to move in and not have to execute any work on the property.
Still though certain states might not require it, buyers will insist upon home inspections before purchase. I advise my home buyers not to get very caught up on the cosmetics of an estate. I push home buyers to target on structural integrity of the house instead.
These days, house buyers cannot count on owning a house and selling it a year or two later. A home purchaser must plan on owning the property for 3 years or longer, even if it has to be turned into a rental estate. Today’s real estate purchaser has many more demands than a purchaser did three or more years ago.