By now, we are all well aware that the real estate market has not been in the best of health. With the meltdown of the mortgage market and the overall economy, homeowners have been losing their homes to foreclosure and buyers have been unable to get financing to purchase new homes.
Today, however, the gloom seems to be clearing for some. Although, no one expects a repeat of the past, overnight souring equity and multiple contracts for the purchase of property, I am seeing some stability in home prices and increased sales. I believe this is in part due to the government’s efforts to stabilize the housing and mortgage markets and lower home prices.
There is no doubt that now is a great time to buy a home, however, for many it is still hard to come up with the required down payment and to qualify for the necessary financing. Regrettably, this will be the hard reality for many, but, don’t give up yet. Doing so, may be the difference between buying a new home today or having to put off this purchase for many more years and paying more for less.
If buying a home today is what you want, you should consider the following. Before you begin to shop for a new home, I recommend that you explore your options -- do some online research. This will help you with questions you will need to ask a mortgage professionals (Below, I have provided a list of websites that will help you with your research). After you have completed the your research, start by contacting a mortgage Broker. He or she will be able to explain your options based on a pre-qualification of your financial state. I recommend that you consult with more than one mortgage professionals. A mortgage professional will be able to tell you the price you can afford and the terms and conditions required when purchasing a home.
If all goes well, you will be ready to start shopping for a new home. The process of buying a home can be daunting for some, particularly for those who are buying a home for the first time. Although, consulting a real estate professional is not required, it is highly recommended. A real estate professional (must be a REALTOR ® to have access to the MLS and other tools provided by the National Association of Realtors), will be able to provide you with a current list of available properties that are within your budget, desired area and configuration in just a few minutes. Note, working with a real estate professional should not cost a buyer anything; commissions are paid by the seller.
With the knowledge of real estate law and the local market place, a real estate professional will make the process of buying your new home less intimidating and increase your chances of succeeding.
http://www.juansanchezrealtor.com/
http://www.miamidade.gov/pa/tax_estimator/TaxEstimator.asp
http://makinghomeaffordable.gov/
http://hud.gov/
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