In June, 2014, John and I stopped in a couple of real estate agencies looking for a fixer-upper on the main line of Philadelphia. Usually, good fixer-uppers in great areas are sold by real estate agents to a builder or contractor on the QT and before anyone else knows they're up for grabs.
As spring progresses, the real estate market continues to be competitive. Buyers are doing all sorts of things to get houses beyond writing a "pick me" letter. In some cases, the risks they are taking are tough to justify.
Each year, it seems the housing market takes on a different tone. Sometimes it's going to be a sellers' market with inflated prices and bidding wars, and sometimes a buyers' market with tons of choices and low prices.
A home purchase is often the largest financial decision of your life. Protecting yourself requires, above all, a solid understanding of the valuation methods out there so that you can ask the right questions.
Rising prices and mortgage rates have forced Americans to downsize their real estate dreams, while determined buyers have multiple worries and are prepared to take desperate measures to buy a home in today's competitive market. So why do they bother?
There is no right answer in choosing any of these scenarios. Your Realtor may be able to advise which is best, depending on the local market. However, much depends on your financial stability, as well as your tolerance for risk or disruption.
With this year's home buying season off to a strong start, due in large part to tight inventories and low interest rates, many prospective homebuyers may find securing financing an obstacle. Here are some tips on how to secure financing to help make the mortgage process easier.