This is good advice for the first-time homebuyer, and it is a good review for seasoned buyers.
“A house is probably the biggest purchase you’ll ever make. And, if you can avoid these missteps, chances are you’ll be happy with the home you choose. Are you gearing up to buy your first place? Shopping for a home is exciting, exhausting and a little scary, especially in this market. In the end, your aim is to end up with a home you love at a price you can afford. Sounds simple enough, right? Unfortunately, many people make mistakes that prevent them from achieving that simple dream. Arm yourself with these tips to get the most out of your purchase and avoid making 10 of the most costly mistakes that could put a hold on that sold sign.
1. Not knowing what you can afford.
We learned from the subprime mortgage mess, what the bank says you can afford and what you know you can afford or are comfortable with paying are not necessarily the same. .”
via HOUSTON – KATY AREA REAL ESTATE BLOG.
Housing Market Predictions 2011: Home Prices May Still Be Too High “by Ilyce R. Glink
What’s the forecast for the housing market for the rest of 2011? My prediction is that the market will continue to suffer for the balance of this year and well into next year. Why aren’t home buyers buying? Maybe they’ve heard the recent spate of bad housing news:”
Absolutely gorgeous day for a ride out to Cinco Ranch West in Katy. Don\’t miss this beautiful, model-like home. Perfect for a family with school-aged children, a retired couple, or a family looking to downsize. Great location and wonderful neighborhood.
SUNDAY, MAY 15, 2011 – OPEN HOUSE TODAY FROM 1:00 TO 3:00
4506 TREMONT GLEN LN IN CINCO RANCH WEST, KATY TX
$279,000 (Below Market Value)
1.5 Story, 4 bedroom, 4 full baths, 3-car garageRoof replaced 2008Lovely extended stone patio
If you cannot make it out to Katy today, I would be gladto show this home to you at your convenience.Margaret
REALTOR® Magazine-Daily News-Economy, Affordability to Drive Home Sales Growth.
Economy, Affordability to Drive Home Sales Growth
Home sales are on track to outperform last year, even though the market doesn’t have the benefit of the home buyer tax credit. This is thanks to sustained economic growth, the slowly recovering jobs picture, and historically high affordability conditions, NAR Chief Economist Lawrence Yun told a packed room on Thursday during the Residential Economic Update at the 2011 REALTORS® Midyear Legislative Meetings.
Although unemployment remains high at about 9 percent, the country is seeing steady job growth. More than 100,000 jobs are being created a month, and the U.S. could see 1.5 million net new jobs this year, Yun said.
Here is this week’s market conditions update:
via Katy and Houston Area News and Events: Real Estate Market Conditions – Video Update 05-10-2011.
– Real Estate Outlook: Bernanke on Housing
– Mortgage Moment
– City Report: Remodeling is Heating Up
– Are You Ready to Buy?
– Kitchen Trends for 2011
– Home Inspections 101
– Popular Landscaping Trends
– Modern vs. Contemporary
– Green Living – Low-Impact Homes
– Your Market Conditions
GET YOUR HOME SOLD!”