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

            

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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."                                                             

 

 

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Rainer
11,991
Mark Mansfield
RE/MAX Ocean Properties - Morehead City, NC
Broker - NC Beaches , Water & Golf Course Homes

I enjoyed the article!! Those were great pictures. Thanks for the post.

May 18, 2011 09:03 PM #1
Rainer
86,481
Tamara Schuster
Naperville Glen Ellyn Lisle Plainfield Wheaton Illinois - Naperville, IL
Realtor Broker - Naperville

Thanks Mark! Enjoy the rest of your week!

May 18, 2011 09:19 PM #2
Rainmaker
300,136
Bob "RealMan" Timm
National Marketing Realtors - Minot, ND
Decades Of Service to the Greater Minot ND Area

Good stuff to get potential first time home owners to reflect on Tamara. I think all of us have had those clients that we questioned if they were making the right choice.

May 18, 2011 09:42 PM #3
Rainer
86,481
Tamara Schuster
Naperville Glen Ellyn Lisle Plainfield Wheaton Illinois - Naperville, IL
Realtor Broker - Naperville

Thanks Bob. I am always thinking of ways to keep it simple.

May 18, 2011 10:26 PM #4
Ambassador
1,319,861
Tammie White
Benchmark Realty, LLC (615) 495-0752 or www.TWRealtyGroup.net - Franklin, TN
Franklin TN, South of Nashville

Tamara, I have family in Naperville. It's really a great city. The riverwalk is such a wonderful part of the community.

May 19, 2011 09:58 PM #5
Rainer
86,481
Tamara Schuster
Naperville Glen Ellyn Lisle Plainfield Wheaton Illinois - Naperville, IL
Realtor Broker - Naperville

Hi Tammie. Thanks for the nice comment.It is a small world as my husband has cousins in Franklin which is also very beuatiful . Enjoy your weekend!

May 20, 2011 03:49 PM #6
Rainmaker
1,109,053
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

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 #7
Rainer
86,481
Tamara Schuster
Naperville Glen Ellyn Lisle Plainfield Wheaton Illinois - Naperville, IL
Realtor Broker - Naperville

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 #8
Rainmaker
981,145
Sharon Alters
Coldwell Banker Vanguard Realty - Fleming Island, FL
Your Fleming Island Relocation Agents.

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 #9
Rainer
86,481
Tamara Schuster
Naperville Glen Ellyn Lisle Plainfield Wheaton Illinois - Naperville, IL
Realtor Broker - Naperville

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 #10
Rainmaker
494,252
C. Lloyd McKenzie
Prudential Allstar Realtors - Albuquerque, NM
MBA - 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?

Jun 04, 2011 04:52 PM #11
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Rainer
86,481

Tamara Schuster

Realtor Broker - Naperville
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