Friday, March 13, 2009

Great deal on great house...Handyman Special


Wow, for those of us who've been around a while, it's been a long time since we've seen verbage like that. Some of you reading this may have never even heard or seen the terminology! The early to mid 1990's was a time when people bought homes that needed work or updating and the consumer knew going into it. But, they bought them anyway...strange I know, but true (stay with me here guys). They knew something we all know and just need to be reminded of. Since we started recording the ups and downs of the real estate market (opinions vary on when that started...1930's or 50's) one thing has proven to be true time and time again. Real estate is by far, the most secure investment that you can make with the highest percentage of return to the consumer BAR NONE!!! Ask someone who bought a home in 1991 for $85,000, lived in it for ten years and then sold it for $250,000!!! 10 years to make $165,000? Terrible prospect isn't it? Of course it's not...the simple fact is that those folks (some made far more than that, trust me) bought at a great time and benefited from the pitfalls of the real estate market tremendously. You, actually are in a better position than home buyers in the early 90's due to the fact that, not only are homes priced very aggressively due to being bank owned, foreclosed or the economy has unfortunately required the owner offer a short sale, but, rates are at all time lows too!!! This doesn't happen folks...at no time in history (that I'm aware of) has the consumer been able to have both, it was either high rates and low housing prices or the other way around. Don't be one of those people (myself included) who said..."I think I'll wait and see what happens with the market". Well, I did, and the housing market went through the roof (almost over night) creating a situation that required me to rent for the next 10 years and pay someone elses mortgage. Talk about pie in my face. The deals are out there, homes are priced to sell and FHA is offering great mortgagae programs. So do yourself a favor, call me about a 203K mortgage plan (which allows you to finance in repairs and updates with only 3.5% down) and call Scott for help as a buyers agent (this is crucial for your protection) and let them know what you'd like to see for homes (chances are very likely that they'll be a lot to choose from) have a look at some listings and listen to your realtor. Find a house that you'd like to make a home and move your family into it, enjoy the pleasures of owning your own home and your piece of the American dream...live your life and enjoy all that goes with it. Who knows? Down the road you might make a couple hundred thousand dollars :) Then again, you could wait to see what the market will do... Enjoy the sun and the weekend, they're expecting 50 degree temps!!! As always, thanks for your time!

No comments:

Post a Comment