Why is home buying so confusing?

By
Real Estate Agent with Naperville Glen Ellyn Lisle Plainfield Wheaton Illinois



  • The latest real estate news can be so confusing to a home buyer or seller now.  Buy today rates are low.  Then the next day, the news headlines are rent until home values drop further.  To make matters more confusing top rated news sights can have conflicting information published on the same day.

     What is a seller to do?

    We all need a place to live.  It is one of our basic needs....SHELTER. We all need shelter. This is not a want.  With that being said, there is never a perfect time unless you are ready.  Ready means many things to different people.  Primarily you must have :

    1. A stable job ie: INCOME is what your lender wants. Meet with your lender to establish price range. 

    2. A educated, knowledgeable Real Estate agent who will LISTEN and make sure your needs are met. Interview and make sure you find the right agent which is KEY.

    3. Ready to move. Stability. You are excited, saved your down payment and want the luxury of owning your own home knowing that you payment will not change. Rents are going up 8% a year because the demand is high for places to rent (economics 101 supply and demand).

    4. Confidence . With the news changing daily educated, confident buyers realize historically low rates combined with low home prices = VALUE.  With investors are up to 40% of the home buyers this tells it all.

    5. Long term. Housing is no longer a short term investment. I am now telling my clients plan on being in your home 5-7 years. While you are buying right in todays market you must be realistic that a home is a great place to be, income tax write off and you may break even when you sell or have a modest gain at best. However, you will be paying down a mortgage like your parents or grandparents did and one day you will no longer have that mortgage. If you were renting that payment like leasing a car will never go away.



    Centennial Beach  downtown Naperville opening up Memorial Day!




    Tamara Schuster 
    3rd Generation Broker
    Real Estate Agent
    Naperville, Illinois
    www.BrokerOfNaperville.com

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                                            Naperville Illinois Real Estate

                Tamara Schuster,Broker

                Certified Relocation Specialist

                              3rd Generation Real Estate Broker

                                Prudential Elite Realtors

                           Naperville, Glen Ellyn and West Chicagoland

            

                     I am here to help you with all your Real Estate Needs.

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 "Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover."                                                             

 

 

                            Tamara@BrokerOfNaperville.com

                               Fine Homes Specialist

                               Call today 630.886.9596

 

                                                                      

 

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Topic:
ActiveRain Community
Location:
Illinois

Comments 11 New Comment

Rainmaker
1,084,017
Jim Frimmer
Realtor & CDPE, Mission Valley specialist
HomeSmart Realty West

I think anytime is a good time to buy if you plan on living in the house, raising a family in the house, retiring in the house, and perhaps even dying in the house!

May 20, 2011 09:48 PM
Rainer
86,147
Tamara Schuster
Realtor Broker - Naperville
Naperville Glen Ellyn Lisle Plainfield Wheaton Illinois

Jim~ very well said. If you plan to live in it and enjoy it now is a good time!

May 20, 2011 10:03 PM
Rainmaker
971,166
Sharon Alters
Your Fleming Island Relocation Agents.
Coldwell Banker Vanguard Realty

Tamara, advising buyers to plan on being in anything they buy for 5-7 years is sound advice. We are returning to the era of when people actually buy a home for long time living, not to move every 3-5 years.

Sharon

May 21, 2011 09:21 PM
Rainer
86,147
Tamara Schuster
Realtor Broker - Naperville
Naperville Glen Ellyn Lisle Plainfield Wheaton Illinois

Hi Sharon, you are exacty right housing is long term.  The days of the quick gain are behind us and we really need to to look at the big picture of owning your home and all the benefits you get from that. They are huge when you compare it to renting especially when you will be in your home for 5-7 years or more.

May 22, 2011 12:16 PM
Rainmaker
494,130
C. Lloyd McKenzie
MBA - Prudential Allstar Realtors -
Prudential Allstar Realtors

Your topic "Why is Home Buying so Confusing?"  could be reworded as follows: Why aren't Real Estate Agent properly explaining the buying process?

June 04, 2011 04:52 PM
Rainer
86,147

Tamara Schuster

Realtor Broker - Naperville
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