The WISE Report

Real estate is always a game of knowing when to make your move.

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With that in mind, industry experts suggest move-up buyers remain mindful of how quickly home prices appreciate while riding the current market recovery.

For move-up buyers wanting to wait out rising home prices to ensure they can sell their current home at a maximum price, analysts say the value of such a move depends on when the homeowner purchased their current residence.

Daren Blomquist, vice president of RealtyTrac, says homeowners who purchased during the down market of the last two or three years would be wise to move up in 2013.

“Because they bought near the bottom, these homeowners should have built up some good equity that can go toward the purchase of a new home, and waiting longer to build more equity likely won’t provide much advantage given that other homes that they might want…

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The Equity Group - Property Management BLOG

By: G. M. Filisko

Working to get your home ship-shape for showings will increase its value and shorten your sales time.

Many buyers today want move-in-ready homes and will quickly eliminate an otherwise great home by focusing on a few visible flaws. Unless your home shines, you may endure showing house10after showing and open house after open house-and end up with a lower sales price. Before the first prospect walks through your door, consider some smart options for casting your home in its best light.

1. Have a home inspection

Be proactive by arranging for a pre-sale home inspection. For $250 to $400, an inspector will warn you about troubles that could make potential buyers balk. Make repairs before putting your home on the market. In some states, you may have to disclose what the inspection turns up.

2. Get replacement estimates

If your home inspection uncovers necessary repairs you…

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dothanhomesforsale

Those about to start house hunting should check their credit score before things get too serious. There is nothing quite as frightening in the mortgage process as learning that your credit report contains a late payment or other blemishes that can prevent you from buying a property.

The higher your credit score, the better your chances are of financing a home. A credit score of at least 620 will give consumers a fighting chance to secure a home loan; 720 should qualify in most cases.

However, a lower credit score doesn’t necessarily mean you can’t finance a home. Credit score repair begins with your credit report. You can request a free copy of your credit report annually from the Federal Trade Commission at AnnualCreditReport.com. Check the report for errors.

Don’t panic if your report contains blemishes. There are steps you can take to fix negative marks, regardless of whether the marks are…

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Home Size Preference Varies with Age, Ethnicity NAHB Finds

A survey by the National Association of Home Builders (NAHB) has found that the size of a home preferred by home buyers varies by age, race, and ethnicity.   The 3,600 home buyers surveyed recently by NAHB preferred a home with a median of 2,226 square feet, but size home dropped steadily as the respondent’s age rose.  Those younger than 35 specified a median of 2,494 square feet as ideal while those over age 65 preferred a home of 2,065 square feet.

“The building industry wants to know how much space buyers want in their homes” said Rose Quint, NAHB’s assistant vice president for survey research, and one of the study’s authors. “This study provides us with new insight into the home size preference of home buyers as a whole, but also across different demographic groups.”

Minority buyers desired more space than White, non-Hispanic buyers.   Asian buyers had a median ideal home of 2,280 square feet, Hispanic buyers specified 2,347 square feet, and African-American buyers 2,664 square feet.  White, non-Hispanic buyers wanted the smallest homes with a median of 2,197 square feet.

According to the U.S. Census Bureau the median home size peaked in 2006 but then fell over each of the next three years. It has now been rising since 2010 and estimates indicate that the median size of all single-family homes started in 2012 was 2,309 square feet, and the average was 2,521 square feet.

Continue reading by clicking on the link provided below:

By: Swanson, Jann.  ”Home Size Preference Varies with Age, Ethnicity NAHB Finds.”

Mortgage News Daily.  03/20/2013.  Web: Home Size Preference Varies with Age, Ethnicity NAHB Finds.

From http://swmortgageblog.com/2013/03/22/home-size-preference-varies-with-age-ethnicity-nahb-finds/

The Jim Snyder Way

It’s no secret that home values are starting to increase as we start off the year 2013.  In addition to the raising values, it appears that a shortage of homes on the market is upon us just before the spring selling season.   The amount of people wanting to purchase a home largely outnumbers the available homes for sale.  Needless to say, competition for homebuyers will be fierce in 2013.

Sellers have the advantage right now – they could potentially end up with a higher amount than their asking price.  However, sellers are also waiting for the home values to increase more before listing their homes, thus creating a shortage of houses for sale.

So what can you do to gain an advantage in home buying during this tight market?

First off, don’t spend more than your budget allows.  It’s easy to get caught up in the hype and up your…

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Tips and Advice for the Home Buyer/Seller

The conventional wisdom is that buyers and sellers go together like oil and water. That is to say, they don’t go together at all. Some say they are at odds simply by virtue of sitting across the bargaining table from one another, which – along with negotiation and legal issues that are par for the home buying course – create the presumption that they want totally different things.

The prime example of competing buyer and seller interests is this: the buyer wants to pay as little as possible, while the seller wants to get top dollar for the place. But there is another way to look at this entirely.  In fact, there’s a point of view from which the buyer and the seller want exactly the same thing:  the buyer wants to buy the place, and the seller wants to sell it to them!  And I’ve seen many buyers and…

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