Interest Rates Are At All Time Lows

Whether you are thinking of buying your first home, an additional home or looking to refinance there's no better time like the present. The interest rates are at an historical low and if you have the capability to invest in real estate or refinance your home and lock in a fixed rate this is the time to do it.

Bankrate.com has noted that national averages are in the low 4% range for both conventional and FHA loans for a  30 year term. As an investor in real estate it's huge for you to strike while the iron is hot and to pay the lowest mortgage possible.

I encourage my buyers to buy now if it is financially possible because the amount of money they will save on the cost of the house and the interest rates will leave them sitting pretty. Many of my clients are also investing in a second or third home because once the numbers are calculated the house is either paying for itself or there's a very small monthly mortgage.

Investing is the keyword here, you buy when prices and rates are low and if you want you sell in a high market......it's just common sense.

**Are you taking advantage of this hot market? Leave a comment and share this article on your Facebook and Twitter Pages.

Should I Sell My House Or Not

So, Should You Sell Your House or Not?

Well, you can look at this question two ways. You can look at it as an investor or look at it as a person that just needs to sell. I phrased it this way because it depends on your circumstances as a homeowner. You should understand the type of market we're in and if you're selling because you have to or just because you want to.


**Let's say if you're an investor in this down market -


If you consider yourself an investor then it's a whole new ball game for you because you are looking to make a profit. Say, you bought a property in the high market in 2005 through 2007 and before you knew it, the market tanked before you could blink your eyes. If you still have that property in today's market at these low prices then you may want to HOLD on to it until the market bounces back. If you can afford it you may want to rent out the property for a while until prices begin to increase.


Now if you are running out of money and you need to sell that investment property now, then you most likely will take a loss in your expected purchase price and move on to the next property.


**Let's say you're just a homeowner that needs to sell -


Let me get something straight, even if you're not a bonafide hardcore investor, when you buy real estate you have automatically invested your money. Therefore, here are some great reasons for selling in this type of market:


-Loss of Income- If you or someone else in your home lost a job or you're now making less money or it's taking awhile to find another job then you may want to sell before you start to miss payments and could potentially go into foreclosure.


-Retiring - If you're retiring and you still have a large mortgage then you may want to sell because you will have less monthly income.


- To Many Repairs - I probably surprised you with this one. But if you're unalbe to care for your hom and it's falling apart at the seams then you may want to sell and get it off your hands.


-Relocating - If you have to relocate for a job, family situation or financial reasons then you may have to sell your home to use the profit towards your next purchase.


- Need More Space -Your family may be expanding and you may need more space. In this market it may be a good move for you to sell your home even if it's for a little less and get a great deal on a bigger home and it may even be in a better area.


-Downsize - If you want less space because the kids are gone or you no longer have a spouse or you're just getting older and can no longer manage the home.


-Senior - I come across many seniors who have homes that are to large to maintain, cannot manage the stairs, cannot take care of themselves any longer, or just want to move to warmer pastures. Most seniors have been in their homes so long that they hardly owe a mortgage or don't have one at all and they can buy another home at these low prices or live with their children or in a senior center.

If You Decide To Sell Find Out How To Do It In 21 Days!

***RENTING IS AN OPTION***


Renting is an option whether you're an investor or someone looking for extra income to make the mortgage. If you want to try to hold on to your home in this market then you may want to rent your home and move out. Better yet, if you have a basement you may want to move into the basement and rent out the larger portion of your home.


Be aware that you should choose your tenants carefully and do everything legally and use a lease. This way, if you want to sell and you need the unit vacant or if you just want them out after the lease expires it can be done.


--Did this article help you to answer your question? I welcome your comments.

How Do You Buy A Home

Whether you're buying for the first time or not you need to know the beginning process to buy a home. By educating yourself you will ease your fears and frustration. But the main reason to know some of the major steps is so you can prepare yourself and get your documents in order.


You can take advantage of the low interest rates and some of the deals that are still lingering on the market, but time is of the essence. So take out a piece of paper to take down these steps or print out this blog article to use as a guide.


**COPY THE LINK FOR THIS ARTICLE AND SHARE IT ON YOUR FACEBOOK, TWITTER AND EMAIL IT TO YOUR FRIENDS AND FAMILY. VERY MUCH APPRECIATED!


Once you have found the home that fits your price range and needs then you need to be prepared for the following steps:


Step 1. Make An OfferOnce you have found a home you want then it's time to make an offer. An offer IS NOT A CONTRACT, it's just an offer saying that you are interested in the house, at a particular price with certain terms and conditions. The offer will keep you in line for the property just in case someone else comes along after you.


Step 2. Counter OfferA counter offer is when the seller would like you to either come up in price and or wants to change other terms and conditions. Some terms and conditions could be the seller's concession, move date, repairs, etc.


Step 3. Acceptance
Once you and the seller have come to an agreement then you will have an acceptance. Now that your offer price has been accepted with all the terms and conditions you are on your way to getting the property you want.


Step 4. ContractThis is the part that makes most buyers shake in their boots. But the fact is, you did all this work to find a home so when you get the one you want you should be excited. If you have chosen a home that fits your needs and you can afford it then you have made a great investment choice. Once you have done step 1-3 then your transaction goes into contract. Once you and the seller sign then you are in a legal and binding contract.


*Before you sign your contract your lawyer and real estate agent will suggest you have inspections to find out the condition of the property and if anything has to be renegotiated or if you still want the property at all.


Step 5. Down Payment Now don't let your lawyer have to wrestle you to the ground to get that big down payment check out of your hands. When you go to sign your contract your lawyer kindly ask you to bring your down payment. Your down payment is necessary in order for the seller to know you are serious and to take the property off the market.


**A down payment is like a lay away that you do at a retail store. You put your money down and sign a contract and the house is taken off the shelf so no one else can buy it. When you get the balance of the money (a mortgage approval for a loan) to buy the house then it's all yours. You didn't think of it like that huh?


After you have met the 5 steps you will have other inspections, searches on the property and your mortgage process will begin. There are many people involved in one transaction and in order to meet deadlines you need an aggressive and experienced real estate agent to make sure everyone does their job and solve any problems that may arise.


**Now that you know the five basic beginning steps, now you need to know all the things you need to be aware of so you can make smart emotional and financial decisions. Check out this great ebook called, "Home Buying Defense Guide", it is filled with all the things you need to know and to look out for and will save you thousands of dollars in mistakes. Check it out right now!


**COPY THE LINK FOR THIS ARTICLE AND SHARE IT ON YOUR FACEBOOK, TWITTER AND EMAIL IT TO YOUR FRIENDS AND FAMILY. VERY MUCH APPRECIATED!


I read all comments so I would love some feedback. Be nice! Visit my real estate site at: www.RhondaHolt.com