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Answers (10)
Best Answer
- sunnyview
- Contributions:25127
Yes. Know all recent sales, current listings, days on market tends, employment outlook and historical values for the area before you make any offer.
Any good agent can help you get that information or direct you to sources where you can find it yourself. They can also help you negotiate the best deal on the house you choose.
Any good agent can help you get that information or direct you to sources where you can find it yourself. They can also help you negotiate the best deal on the house you choose.
- sunnyview
- Contributions:25127
Thank you for the best answer! I appreciate it. I hope that you consider posting some information about Austin. It is a great city :)
- Caveat Emptor
- Contributions:500
pay extra toward the principal. even people who bought in 2006 could make up for that mistake, if only they didn't overextend themselves at the same time. buying a home at no more than 2x your annual income and paying extra towards principal is a secret that is jealously guarded by those who stand to lose out on the commission.
- Seth Captain, "CaptainSeth"
- Contributions:142
I do not know the secrets. Will you please post them so that home buyers and the citizenry at large can finally rest comfortably knowing that the price they paid is a fair price.
You will be doing a wonderful public service deed, and subsequently help solve long standing issues in a market economy.
You will be doing a wonderful public service deed, and subsequently help solve long standing issues in a market economy.
- Dan, "the_country_hick"
- Contributions:4694
Take interest rates into account.
A 30 year $106,000 mortgage costs $493.91 a month at 3.8%.
A 30 year $100,000 mortgage costs $491.94 a month at 4.25%.
A 30 year $80,000 mortgage costs $492.57 a month at 6.25%
A 30 year $69,000 mortgage costs $494.32 a month at 7.75%
A 30 year $56,000 mortgage costs $491.44 a month at 10.0%
A 30 year $48,000 mortgage costs $493.73 a month at 12.0%
A 30 year $39,000 mortgage costs $493.13 a month at 15.0%
A 30 year $31,000 mortgage costs $492.56 a month at 19.0%
A 30 year $23,600 mortgage costs $491.96 a month at 25.0%
Obviously buying at low interest rates causes us to overpay based on the affordable monthly payment.
A 30 year $106,000 mortgage costs $493.91 a month at 3.8%.
A 30 year $100,000 mortgage costs $491.94 a month at 4.25%.
A 30 year $80,000 mortgage costs $492.57 a month at 6.25%
A 30 year $69,000 mortgage costs $494.32 a month at 7.75%
A 30 year $56,000 mortgage costs $491.44 a month at 10.0%
A 30 year $48,000 mortgage costs $493.73 a month at 12.0%
A 30 year $39,000 mortgage costs $493.13 a month at 15.0%
A 30 year $31,000 mortgage costs $492.56 a month at 19.0%
A 30 year $23,600 mortgage costs $491.96 a month at 25.0%
Obviously buying at low interest rates causes us to overpay based on the affordable monthly payment.
Biggest "secret" ----
(That means not only watching historic pricing trends and overlaying them on CPI inflation curves... but also constantly checking the rent to buy living expense ratio).
(.....Don't buy at the peak of a housing bubble.....)
(So, if your Realtor® represented any buyers during the housing bubble, he or she probably was at least partially responsible for the buyer "overpaying").(That means not only watching historic pricing trends and overlaying them on CPI inflation curves... but also constantly checking the rent to buy living expense ratio).
- Naima Sumner, "Dallas Ft. Worth PRO"
- Contributions:2847
Another way of not overpaying is not to buy at all...
Sunnyview, you are sooo good.
Naima
- Vince Curtis, "SoCal Appraiser"
- Contributions:4699
Appraisers in Austin must really be inept.
I believe Michael is a Realtor...
We are just Realtors! We live, breath and eat Real Estate!
I believe Michael is a Realtor...
We are just Realtors! We live, breath and eat Real Estate!
- David Barr, "dpbarr2000"
- Contributions:280
Appraisers in Austin must really be inept.
- SoCal_Engr
- Contributions:5663
Nice ad. From what I've read, it sounds like yet another way for REAs to compete amongst themselves. "I have blah-blah-blah and the others don't, use ME!" Of course, the implication is that REAs that aren't licensed to use the system are going to cost buyers an extra 5%-15% through their ignorance of this program.
Do know the secrets to avoid overpaying for your home?
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- 5.0/5.0
- (13 reviews)
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