Category: Buyers

Buyer opportunity of a lifetime?

Probably yes. Because of recent government involvement, an opportunity exists today that may never again be available in our lifetimes. Two advantages are available to a home purchaser today that may disappear in the future due to current government changes now under consideration: Historically low interest rates The ability to lock in these rates for thirty …

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If real estate is so bad, why are the rich buying?

There is an interesting phenomenon taking place in the real estate market. While house prices are falling, the rich are starting to purchase. DataQuick Information Systems reported last week that sales on homes $1 million or more rose 18.6% last year after four consecutive years of decline. This is at the same time that sales …

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Wells Fargo accepting credit scores as low as 500

Wells Fargo says it’s accepting FHA mortgages for borrowers with credit scores as low as 500. The move comes after NAR (National Association of Realtors) and FHA Commissioner David Stevens, among others, late last year criticized the country’s major banks for requiring credit scores as high as 650 in some cases before making loans. At …

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FOR SALE: Home must be flawless… ‘move-in-ready’

MEMO TO SELLERS:    Home must require little or no updates and be a ‘great deal.’ Price discounts expected. Are you kidding me or what?!! Ahem. No. That’s the current market reality. A recent survey of 300 first-time-homebuyers found that an amazing 87% said that “finding a move-in ready home is important.” Gone are the days …

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More believe buying still better than renting

Yes, the data is a bit dated. Still, a national housing survey by Fannie Mae shows that in the third quarter 2009, 66% of consumers believed buying a home is a safe investment, compared with 16%  who believe stocks are safe. That does not mean confidence in real estate has not been shaken in recent years: …

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Who’s buying homes? Cash buyers…

        Fewer first time homebuyers While the number of home sales is ticking upward, the momentum is not coming from first-time homebuyers reports The Seattle Times. The number of buyers in the ‘first-ever’ category fell to 29% in January –  the lowest percentage in nearly two years. Cash buyers, on the other …

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Cost of waiting for home prices to fall adds up

Still sitting on the fence waiting for home prices to hit ‘The Bottom’? It’s a given that cautious buyers want to make sure that they don’t overpay for their new home. Unfortunately, it’s not all about the price… Buyers shouldn’t be so concerned about home prices as they should be about the cost. The cost of a house is made …

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