Madison, Wisconsin Area Buyers Market Best in Recent History


http://rismedia.com/2011-03-17/first-time-home-buyers-prepare-for-best-buyers-market-in-recent-history/

While affordable housing prices, ample inventories, and historically low interest rates signal 'buyer's market' for the investors or move-up buyers in many U.S. markets, inexperienced first-time buyers may not know if the time is right to make a move into real estate. "It's not about timing the market. It's about time in the market," says Steve Berkowitz, chief executive officer at Move, Inc., a leader in online real estate. "Once you know how long you expect to own a home, look at the historical value performance of properties in the neighborhood. Be confident about your own job security, down payment resources and tolerance for upkeep, as well as the lifestyle you want today and in the near term. While homeownership may not be for everyone, it is the right choice for hundreds of thousands of people. Today's housing market, especially for first-time buyers, makes it almost impossible not to think about the possibilities." To help first-time buyers know if they're ready to look for the home of their dreams as we head into this year's home-buying season, the experts at Move have created a 'reality checklist' designed to help them decide if the time is right.
Get Your Financial House in Order
Before you decide to buy a home, it's essential to make sure your credit is in good shape and repair any damage previously done. Know your credit score: thirty-five percent (35%) of successful buyers recently reported they didn't know their credit score when they went house shopping, according to a national survey fielded by MortgageMatch.com. Having enough money set aside for a down payment is a key component to making sure you are ready to purchase a home. Also, it's important to not put all of your money in the down payment as other fees or unexpected expenses often arise after closing.
Don't Fall in Love with a House You Can't Buy
Find out how much you can afford: establishing your purchase power up-front, including how much money will be required for a down payment and closing costs, is a must for first-time buyers. Look for special loans available for FHA and government sponsored loans for first-time home buyers that reduce the amount of money required to get into a home.
Learn the Lingo
Since first-time buyers are new to the market and will finance a significant portion of their purchase, it's important to get familiar with the process and terminology associated with home-buying.

For information on finding real estate, including the perfect home in the Madison, Middleton Wisconsin areas, consult the See Team:   http://www.seemadisonrealty.com

Comments

  1. Lake Wood VillasOctober 27, 2011 at 5:31 AM

    Interesting and important information. It is really beneficial for us. Thanks


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