As much fun as horse ownership can be, it is also a responsibility that comes with certain limits when you buy horse farms for sale. If you don’t share the property with others or you have no clear way to monitor the horse, then you will need to know how much property the horse is worth. The value of your horse is based on several factors, including its age and breed. The most obvious of these factors is age. Older horses will be harder to own because their value decreases with each year they are aged.
Buying young horses isn’t always a bad thing. They can quickly gain strength and learn to be dependable. Some horses may even excel in competitive events. On the other hand, if you plan on owning horses for long-term purposes, such as competing at the Olympics, then it’s a good idea to go with an older horse. Not only will you get more for your money, you’ll be guaranteed to have a horse that’s ready to compete for your money.
Amount of Horses
When figuring out how much property you need to own a horse, it’s important to factor in how many horses you want to own. The younger the horse, the more time and effort you will need to invest in its care. An older horse will cost less but its responsibilities will increase. This will mean that you’ll need to hire someone to help you keep the horse groomed and to exercise it.
Acres of Property Available
Another consideration is how many acres of property do you have available. The cost of owning a horse can be very expensive and owning equestrian properties can help you manage everything that comes with taking care of horses. Depending on how long you plan to own the animal and whether or not you use it for show or racing events, there are many factors to consider before purchasing a horse. Keep in mind that although you can train a horse, you will need to provide it with a stable and healthy diet. If you have the money to invest, purchasing an Arabian or a Western horse may be the best choice.
Purchasing Horse Related Items
In addition to purchasing a horse, you may also be interested in purchasing other horse related items, such as tack, grooming equipment and jockey equipment. If you are able to acquire the necessary funding and space, then you can easily own multiple horses. This gives you the opportunity to compete in several competitions throughout the year and possibly win the highest prize. It can also help keep you motivated and ready to race whenever the opportunity presents itself.
Once you know how much property you need to own a horse, it’s time to start searching for a horse. You can try looking at local equestrian clubs or search online for online lists of available horses. You should also ask other horse owners what they consider as valuable property. If you are looking to purchase a young animal, try and find one that’s not too old and is still free and clear from any previous health issues. A healthy horse is less likely to develop any ailments, which makes for a more enjoyable horse ownership experience.
You are interested in becoming a real estate agent, but you have no idea where to start or what steps to take to achieve your goals. The first step in becoming a real estate agent, like most careers, is to get the proper education or certification from an accredited real estate school and complete the state licensing exam.
One of the first big decisions you will have to make in starting your real estate career is which school you would like to attend and whether it is more beneficial for you to take classes online or in-person. There are benefits and drawbacks to each, so you will have to analyze which option will help you gain the most success.
One big benefit of online programs is that there is a lot of flexibility around them. It is very likely that you have other responsibilities to take care of while you are completing coursework, such as other work schedules or a family to attend to. Online programs allow you to complete your licensing on your own time and schedule while still being able to carry out your everyday tasks.
Furthermore, it can be a big money saver. Online classes can wind up being less expensive than in-person classes because you will be saving money on the cost of traveling to campus, the cost of a babysitter if you have a family to care for, and the cost of having to ask off of work on the days and times you have classes.
There are Drawbacks
However, there are drawbacks to doing online schooling as well. You need to take into account which method of schooling will be most beneficial to you in acing the state licensing exam. Although it is tempting to take classes in the comfort of your own home, you must have the self-discipline to log onto the online program and complete the coursework in a timely, efficient manner. You must be able to stay organized, motivate yourself, minimize distractions, and manage your time efficiently.
Also, there is a lack of face-to-face communication with peers and teachers. Some people benefit more from being able to have discussions with students and teachers throughout a class time or lesson. With online schooling, you still have the ability to communicate through emails or discussion boards; however, you may not get the feedback or answers to your questions as quickly as you would like. There is also a higher likelihood of miscommunication through online mediums since there is no way of indicating tone of voice or body language.
In turn, one of the biggest benefits of getting your education in the classroom is being able to have that face-to-face communication with teachers and other students that want to obtain their real estate licensing. The ability to have that interaction allows you to build relationships and trust with those around you and to obtain answers to your questions in a quicker manner. You may also find that you are able to learn more efficiently in a classroom where you are allowed that clear interaction instead of staring at a computer screen in which you will have to lead yourself in the learning process.
One drawback is that you will not have that flexibility to complete your coursework on your own time like online real estate courses allow. There will be a limited amount of days and times to choose from when it comes to scheduling your classes, which may cause problems if you have a work schedule or child’s school schedule to work around. You will not be able to work at your own pace so, if you feel like you may be learning ahead or behind the rest of the group, you will more than likely have to stay at the same pace as the rest of the group.
There is also the additional drawback of the extra costs of travel or time. You will have to account for the money it will take to travel to the campus, whether that be by car or public transportation options, and the cost of taking off of work for those class times or finding childcare while you are in class if needed.
Remember that requirements for real estate licensing depends on the state that you live and plan to work in. Make sure that you are aware of all state requirements before making your decision and do research on local programs and online programs. For a better idea of what type of education is better for you, ask for recommendations from friends or coworkers, compare the costs of courses, materials, and travel, and assess which aspects of learning are going to be the most advantageous for you to obtain your real estate certification.
Whether you choose to go into the classroom or stay home and take your classes online, you want to make sure that your choice will be the most useful to you in jump starting your real estate education!
When you’re in the market for a home, insulation may not be the first thing to come to mind, but considering its overall role in the home’s ability to provide a comfortable living environment.
And to avoid astronomical heating and cooling bills, checking the insulation of the home must be on the inspection to-do list. The quality of insulation effects the cost of owning a home as a result of the need to heat and cool the building.
For a seller of real estate, it is important to make sure that the place is well insulated as it is a good selling point that add value to the house.
Planning To Buy A Home
Checking on the quality of its insulation is a necessary part the process when buying a home. Unfortunately, it is impossible to look behind walls to inspect for insulation.
If the owner can provide evidence of the type and “therm rating” of the insulation, that should give you some insight. Sometimes there is a certificate of installation issued by the installing contractor.
It’s also possible that an older house may have originally had lacked wall insulation, but had it blown in at a later time. .
If the floor is well insulated, there will be sheets of insulation called batts under the floorboards that will be seen. If all you see are the floorboards, then there is no insulation.
Checking attic insulation, likewise, involves going into the attic. If the attic is not boarded over, you will see the blown fiber insulation. It will look like cotton on the attic floor. If all that is seen is wood, wiring, and drywall inside the attic, then there is no insulation.
Planning To Sell A Home
Considering the quality of its insulation when selling a home is important. Selling a properly insulated home is not only a good selling point, but it improves the value of the house as well.
It would be a good idea before putting a house on the market to check its insulation. If you have already improved the quality of the insulation of the house, and provide the buyer with a copy of the certificate of installation that is often issued by the installer.
If one wasn’t given, you may be able to call the installer and ask for one. Most installation companies will send a new one as customer service for free, but occasionally they may charge a nominal processing fee.
When selling a house that lacks proper insulation, consider having it installed. It will increase the value of the property and make it easier to sell.
The increase in value will be more than the price of the work and a good investment. Showing potential buyers certificates of installation and contractor receipts for any work or improvements made to the home can be a big selling point.
When In Doubt, Ask Your Realtor
Both buyers and sellers need to keep insulation in mind. The buyer will get a better and more cost-efficient house. The seller will not only get better value for the house but have a helpful selling point as well.
Insulation is an important part of a cost-efficient home, so as long as both buyers and sellers keep it in mind both will benefit. If you have questions about insulation in your home buying process, or need help finding the best home for you, discuss it with your Realtor.
Most Realtors will recommend a professional home inspection as part of your buying process, and more information about a home’s insulation can often be found in one of these types of inspections.
Property laws were made to protect the property rights of a person. They gave property owners the power to use, get returns and benefits, protect or give away an extent of land or a building within a set of regulations mandated by law. Property laws in the US have a long history. Lawmakers have continuously made efforts to protect the rights of land and home owners from the drafting of the US Constitution and Bill of Rights, all the way up to today. This is very different than the way real estate is handled, lets say for instance, in Cabo Mexico.
Before laws were framed and just after the American Revolution, there were instances of forcible confiscation of land without legal proceedings from loyalists. Lawmakers realized the need to protect the rights of property owners. The framers of the American Constitution emphasized the importance of property.
James Madison Bill of Rights
James Madison made efforts to protect property while framing the Bill of Rights. While declaring the purpose of government, he stated that government should be exercised for the benefit of the people, including protecting their rights of acquiring and using property.
In the fifth amendment, James Madison added two safeguards that no person shall be deprived of life, liberty or property without due process of law, and private property shall not be taken for public use without just compensation. At first this law was applicable only to the federal government but later many states adopted these clauses under the Bill of Rights to protect property owners.
The New Deal
After the Great Depression, the importance of property laws and judgements that focused on the protection of private property declined. This was a result of President Franklin Roosevelt’s program in 1937 where the Federal government promoted public welfare and controlled the economy.
Real Estate Rights Today
The laws of real property protect the buyer and seller of property in the USA today. There are many laws made locally to insure those who want to buy a home or sell a home are not only protected, but the transactions are performed according to law and recorded correctly.
Buyers and sellers of properties consult a real estate attorney or a title insurance company to make sure that there are no claims on the property by tracing the history of the title and transactions. The title company or real estate attorney will help buyers with mortgage options. They will also ensure that the transaction contract is fair to the seller and the buyer.
Limitations of Rights
In the US, we do implement many limitations of rights on real property. This is done through zoning and other local and federally implemented rules. For instance, if your home is in an older city such as Savanna, New Orleans or Boston that has many historically protected properties, you will have additional rules and regulations on what you can and cannot do to your own home. In addition, if you are buying a waterfront property, they have riparian water rights that you should be made aware of by your Realtor.
Rights of a Buyer
When buyers decide to buy a home, they have legal rights under both federal and state laws. They have the right to be informed about any claim on the title. They have the right to know whether the building has any structural defects. They have the right to know about any property taxes.
They have the right to appraise the house in a fair and neutral manner. They have the right to see or walk through the property before closing the deal. They have a right to know whether the seller has homeowners insurance and other required insurance. They also have the right to refuse or choose a mortgage provider or lender. Buyers have the right to get a market price analysis to compare with similar properties. Before closing the deal, they have a right to obtain copies of the purchase and sales agreement.
The Rights of a Seller
Federal and state laws also give certain rights to home sellers in a property transaction when they decide to sell a home. Sellers have the right to set a reasonable price for their property. They can advertise the property in a forum or a listing. Sellers have the right to work with a property broker or agent. They can provide a home inspection or request one. They can accept or reject offers of buyers and negotiate for a deposit.
From the framing of the constitution, all the way to today, laws and regulations in the US have addressed the importance of protecting the rights of property owners and the need to regulate property transactions.
There are many types of pests that you do not want to invade your home and cause damage. The damage these pests cause can be expensive and dangerous.
Types of pests
You know the saying, “Don’t let the bedbugs bite” well it is true.
Bed bugs do bite; unfortunately, it is often mistaken for spider or mosquito bites, and the bite itches just like other insect bites. It is extremely rare, but in some instances, a person can have a severe allergic reaction to a bed bug bite.
Other types of pests include;
Termites which weaken the structure of the home
Ticks which can carry Lyme disease that is harmful not only to humans but our pets such as dogs and cats
Spiders some of which can be dangerous
Rodents carry disease conditions as well as fleas
Not all pests are insects so do not forget pests such as snakes, raccoons, birds, and other wild animals.
How to control and get rid of pests
First you will need to determine what type of pest you have; apparently, some are more difficult to spot than others. If you are finding rodent droppings, you apparently have a problem. You canset traps or poison out to get rid of the problem; however, if you have children or pets you should probably stay away from the toxins. Don’t like removing the rodent from a trap? There are now traps that lure the rodent in, and you throw the trap out with the rodent inside so you never must see or touch the rodent. Ant traps work similarly, however; they have poison in then so do keep them out of reach of children and pets.
Often it may seem like you are losing the battle when it comes to some of the household pests such as ants and roaches; this is the time to call in pest control. When you call a pest control company, they will come in and do an inspection first. They look for signs of activity, to see what it is you have in your home. Based on that inspection they will recommend ways to control re-infestation once they problem is gone. Once the type of pest has been determined, they will use the proper products and equipment to rid your home of the pest. Depending on the problem you may have to leave your home for a day or two.
If you are concerned about the effects of the products they use on your children or pets, speak to them to find out how long before it is safe for your children or pets to be on the floor, etc.
Things you can do
To keep mice and roaches out of your house do not leave things that they can find to use as a source of food or nesting materials such as cardboard boxes sitting around.
Do not store things such as food in bags, purchase plastic containers with airtight lids to save things like cereal, sugar, flour, etc. in the pantry.
Keep counters and sink washed and clean of crumbs, grease, and other food sources.
You may use your vacuum at least once a week to prevent food crumbs off the floor that could attract things like ants or mice.
Keeping things clean does not mean you will never find pests in your home, but it does reduce the number of infestations.
Every couple of months, inspect the areas under your sinks, around your toilets and tubs, or appliances such as washers for water leaks that could cause puddles to form in the basement or under your home which could be a water source for insects or rodents.
If you do not leave food or water sources for pests, they will move on quickly.
Get Rid of Pests Before Listing Your Home
Nothing will kill a real estate showing faster than the potential home buyer seeing insects or rodents when viewing your home. Make sure to get rid of the issues well before listing your home for sale. In addition, make sure that any dead bugs or carcass are removed before putting the house up for sale. Although this sounds like very basic information, countess homes are put up for sale with dead bugs around after the home has been treated.
Looking for ahome in Boston? You may want to look elsewhere. The Boston real estate market is broken for many of its potential buyers. Inventory is tight and there is not nearly enough entry level homes. It seems to be that fewer homeowners are trading up. Add in the fact that cash bearing investors and foreign buyers dominate the market which is wonderful for sellers by its often miserable to the ordinary homebuyers.
Boston’s real estate market is only normal when it is compared to other popular areas such as New York and Silicon Valley. The need for a reasonably priced home market for next generation workforce has yet to be found in Boston. The invisible hand of capitalism has not been able to meet entry level demand. Instead developers prefer to build luxury units instead catering to another class of home buyers were more money can potentially be made.
Boston is aware they have a problem on their hands but the issue never rises to a level of urgency that inspires any political action. Quietly we may enjoy watching our home prices escalate without considering the consequences of torturing a new generation of would be homeowners. Really what possibly could be the problem in having one’s home equities rise by $100,000 in 2 years?
Boston Real Estate Market
The real estate market is not considered broken to the current homeowner it’s broken for the home hunters competing in the unforgiving front lines of the real estate market. Old rules are being changed for new ones. Potential buyers are being pre-qualified, while also willing to bid higher than the asking price, and also buyers are willing to waive the mortgage contingency, meaning they would remain on the hook for buying the property if the financing falls through. Lastly buyers are willing to waive the inspection contingency, committing to the purchase of the home no matter what the inspector finds.
The question is the difference between winning a bid they placed or not. Imagine being a first time home buyer and facing the biggest purchase of your life and feeling pressure to make your decision on blind faith alone. Victories do come to persistent first time home buyers, but is it really worth the price you ultimately pay.
Boston continues to lose population to places like Atlanta, Denver and Dallas. The Boston area has lost jobs due to the lacking population. Because of the high prices associated with Boston real estate, many have moved to the outskirts of Boston purchasing homes in Quincy MA and Cohasset MA. Maybe if homes were more affordable people would move their families here and businesses would come to the area to expand in growth.
The board at a zoning appeals don’t seem concerned with the job problem in Boston, but their decision on zoning are. They regularly turn down multi-family projects and feel justified in the decision because we lack the transportation infrastructures to support them.
There are signs of hope for housing in Boston. A bill passed in senate last year requiring cities and towns to create multi-family zones. All though the bill has yet to be used, the issue of tackling zoning to permit more housing creation is starting to pick up.
With all of that being said, Boston continues to gain ground as one of the hottest places to own property. Housing prices are way above the national average in the last year. The median home price for the Boston area real estate has an astonishing $378,500 compared to the national average of $215,767. While very appealing to Boston investors and homeowners, even better is places like Beantown where home appreciation rates remain some of the best in the nation. This trend seems very promising for the year to come.
The Boston and real estate market have seen mild gains in home appreciation within the last year. The appeal for home buyers and Boston real estate is found in equity gains which have exploded in the last couple of years.
Bostons Real Estate Market Is Booming
Homes purchased in Boston’s housing market a year ago have appreciated an average of $10,187. While the national average was $15,781 over the same year. Over the past three years Boston real estate began to overthrow the national average which saw gains of $64,281. For homeowners and Boston investors they get the real advantage around year seven of home ownership when total equity gains reach their full potential. Over all price appreciation and principal payments have boosted total equity growth since the recession.
As of June 2016 there currently are 779 properties in the Boston area in some type of foreclosure. According to Realtytrac the number of Boston foreclosures in the month of June was 9 percent lower than the month of May and 8 percent lower than the same time in 2015. In addition the number of REO properties decreased 37.5 percent from the previous month while decreasing 50 percent from the same time last year.
If busy city living, great food, and great sports teams interest you, Boston, MA is the place to call home. If you’re willing to make some crazy offers in this competitive market you have found the right place.
Are you searching for a new home? Why not consider purchasing a home or property on the water? There are many benefits and luxuries associated with waterfront living, and homeowners who purchase homes near the water live a different lifestyle than typical homeowners. Living on the water can even reduce stress and provide a healthier lifestyle! If you are in the market for a new home and want to know more about what to expect when buying a waterfront home, this article is for you. Read further to find out more about what waterfront living will look like for you.
Life on the Water
If you’re thinking that living in your dream home near the water would be a fun and relaxing experience, then you are correct! Living near the water comes with many advantages. For one, you have nonstop access to the water and all of the water-related activities you can think of.
You can kayak, paddleboard, swim, fish, ski, snorkel, take out your boat, and more! In some cases, you can even keep your boat and kayak on your own personal dock. You will be able to enjoy all that the water has to offer without the inconvenience of parking fees, dock fees. etc. You can simply walk out your door and step right into the water! And think of the views! You can enjoy your water view without the high price tag of a luxury waterfront hotel. Enjoy beautiful sunsets and sunrises right from the comfort of your own home.
You can also expect a sense of tranquility and peace by living near the water. The air quality is naturally cleaner near the water as well. You can also expect more privacy with your waterfront home, as part of your home will face the water instead of someone else’s backyard.
You likely won’t have to worry about noisy neighbors or dealing with new homes being built and ruining your view. Waterfront homes often have the added benefit of enjoying the outdoors in general. From hiking the woods in a lake residence to strolling the beach in an oceanfront home, if you love the outdoors, waterfront living is for you.
Maintenance for Waterfront Homes
You can expect the maintenance for waterfront homes to be a little more extensive than that of homes that are not located near the water. For example, you might want to consider adding in additional maintenance checks and precautions depending on where you live. If you live near the ocean, the salt from the ocean can do damage to certain materials, so preparing for that prior to building or purchasing is essential. Of course, flooding can occur, high winds, etc. While the upkeep might be a little more taxing, most waterfront homeowners find the extra work well worth it.
Finding the Right REALTOR
Just like with anything, you are better off when using an expert. In this instance, we strong recommend using a real estate agent that has a specialty in waterfront properties. With all of the unique aspects of the sale that come with buying a waterfront home, having a real estate agent with experience in representing buyers for this type of property is critical.
For instance, many waterfront homes for sale have a bulkhead installed – this is the man-made barrier where the water meets the land. Bulkheads can get extremely expensive to install or repair – we are talking up to $500 per linear foot – your agent should be able to connect you with the proper home inspector for such a project. Bulkheads are just one example of the uniqueness of purchasing a waterfront property, there are many things that an agent who specializes in waterfront properties will be able to help with.
Insuring Waterfront Homes
The insurance for waterfront homes is typically more costly than other homes as well. This is due to the increased risks such as flooding, hurricanes, etc. that are often associated with waterfront living. Flooding, hurricanes and other storm-related damage are not usually covered in general homeowners insurance. And by living on or near the water, your home is more susceptible to these types of risks and damages. Therefore, you will likely be required to purchase wind, flood, and general homeowners insurance for a waterfront home.
Finding out the price of these insurances before choosing a waterfront home will help you understand how much you can afford as far as a monthly payment is concerned. Chances are the insurance could push you over the limit you set for yourself for mortgage payments, so that figure is important to know beforehand. As with the maintenance and upkeep for waterfront homes, most homeowners find the extra cost of insurance for waterfront property to be well worth the investment.
Owning a beachfront home is generally something that most people consider to a factor of the Lifestyles of the Rich ad Famous. Truth is, if you want to own your own little piece of beachfront real estate, a condo may be a way to make your dream come true. Condos can be a very cost-effective way to live not only on the water…but on the beach!
Another benefit that you should consider when purchasing waterfront property is the resale value. If you think about it, there are only so many waterfront properties available, and because of this limited supply, the homes located on waterfront property are much more valuable and desirable. If you ever consider selling your home or even renting it out as a vacation home, you will probably bring in top dollar for it. So in the grand scheme of it all, your waterfront property could serve as a great investment for the future.
If you are looking for a waterfront property, consider all of the benefits that waterfront living has to offer. Now that you know more about the waterfront lifestyle, you can begin your search for the perfect waterfront home!
The cost to own or rent a home in the City of New Orleans, LA has been rising for years, but the trend of being priced out of the city is beginning to change.
Prices have been rising since the revitalization after Hurricane Katrina struck in 2005. After the catastrophic hurricane, the homes that were renovated and ready to live in were at an all time low in supply. If they were not destroyed in the Hurricane, they were in high demand. This was one of the reasons for the Northshore’s huge growth. The property values of Covington homes and Mandeville homes shot up because they were “high and dry”. New Orleans natives were scooping them up at whatever cost just to stay in their city. The prices rose.
As new construction soon began popping up, more homes were available. Still, getting back into the City was pricey for natives eager to return. Builders knew the supply and demand conditions would be a big payoff for them for a few years after Katrina, and they capitalized on that.
Shortly after the hurricane, you would find single, shotgun style homes that were going for $300,000. That runs about $300.00 per square foot. Too costly for most natives to return home, coupled with the rise in crime, it just didn’t make sense to move back. Until now.
Bringing The Price Back To Affordability
Looking at the prices of 2016, we have seen the cost of Real Estate in New Orleans neighborhoods starting to level off, and it was due to flatten out and go down a little.
2016 showed a slow down in the oil and gas industry, and the capping off of the film tax credit did cause some Louisiana jobs to move elsewhere. Also, typically during a presidential election year, things slow down on the Real Estate front as a whole.
There appears to be a little bit of an oversupply and that will put pressure to moves prices downward some. This oversupply will also cause rentals and sales to stay on the market a little longer in some neighborhoods of New Orleans.
Home Prices for 2018
The home prices for 2018 have continued to rise. Still, with Mandeville and Covington and other communities on the Northshore doing very well. New Orleans proper has seen gains too, just not quite as strong.
Higher Priced Neighborhoods Affordable Again
The Uptown, and the Warehouse District are higher priced markets that too will see price drops, and some will be significant. This is not to go as far as to call it depreciation, or a “Buyer’s Market“, but can be viewed as a slow down on appreciation. This will help natives to move back into the cities higher end neighborhoods they once fled after Katrina.
Recovery Still Going On
There are still parts of New Orleans that have not recovered. Homes are gone, but the land where they once sat remains. Real Estate experts in the area predict these areas will again have homes built that are affordable. As with any catastrophic event in Real Estate, there comes a time that prices level back out, and people can come home. That time appears to be now, and all eyes are on the prices for 2017. This will only be measured by the amount of people returning to the City.
The National Association of Realtors® shows the fourth quarter of 2016 showed an up tick in home sales across the United States. It is expected to slow down some during the winter months, but if this is a sign of things to come in 2017, we are in for a good year. Real Estate Agents, Lenders, Home Sellers and Home Buyers are all keeping a hopeful, and watchful eye that this trend will continue going forward.
National Increase By Region
Existing-home sales in the South rose by 2.6 percent in the fourth quarter and are 5.4 percent higher than the fourth quarter of 2015. The median existing single-family home price in the South was $210,500 in the fourth quarter, 7.9 percent above a year earlier. Picayune, MS is seeing this rise in existing home sales, as well as other cities across the south. Real Estate Agents in Picayune, MS report that their phones haven’t stopped ringing heading into 2017 as well. New Orleans, LA has also seen tremendous growth in their existing home sales. The Lakeview area of New Orleans has surpassed other metro areas within the city, with some of the strongest gains in the country.
The Rest of The Nation
Existing-home sales in the Northeast had gains of 10.5 percent, the Midwest boasts existing-home sales climbed 2.3 percent, and in the West sales gained by 1.6 percent in the fourth quarter. With the Northeast showing the largest gains, we must keep in mind that sales in places like the South had not dropped off as drastically as other part of the nation during the mortgage meltdown, so the South did not have as far to climb back up. The United States (U.S.) subprime mortgage crisis was a nationwide banking emergency that contributed to the U.S. recession of December 2007 – June 2009.
What Does This Mean To Sellers
You sometimes hear this is a “Buyers Market” or this is a “Sellers Market”, I believe it can be the best of both worlds, and the data of the last fourth quarter proves it. If you are wanting to list your home for sale, there are plenty of buyers out there. If you are in the market to buy a home, there is plenty of inventory to choose from.
Be Prepared When You Are Ready To Buy
Those looking to purchase a home in 2017 will benefit from more inventory to choose from. This increase in inventory creates a balance in the housing market.
This shift in supply and demand, to a more balanced market, will give home buyers more options and opportunity to negotiate for the purchase of their dream home. No longer will buyers of existing homes for sale have to settle.
Do your homework on what price home you can afford. Keep in mind your expenses outside of what a lender may consider, so that you have a comfortable mortgage payment for you and your family.
Get pre-approved with a reputable lender after you decide a comfortable monthly payment, and have on hand your supporting documentation such as pay stubs, bank statements and identification.
Always remember not to make any large purchases prior to applying for your home loan. Your lender can guide you on what you should, and should not do that may affect your credit.