You may contact me for Real Estate services in Tucson, Arizona by calling (520) 730-2285. - Thanks!

10 Things to Take the Trauma Out of Homebuying

1. Find a real estate professional who’s simpatico. Homebuying is not only a big financial commitment, but also an emotional one. It’s critical that the practitioner you choose is both skilled and a good fit with your personality.

2. Remember, there’s no “right” time to buy, any more than there’s a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long.

3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision.

4. Accept that no house is ever perfect. Focus in on the things that are most important to you and let the minor ones go.

5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price may lose you the home you love.

6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself—room size, kitchen—that you forget such issues as amenities, noise level, etc., that have a big impact on what it’s like to live in your new home.

7. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.

8. Factor in maintenance and repair costs in your post-homebuying budget. Even if you buy a new home, there will be some costs. Don’t leave yourself short and let your home deteriorate.

9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big commitment, but it also yields big benefits.

10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually from 1998 to 2002, a home’s most important role is as a comfortable, safe place to live.

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®
Copyright 2005. All rights reserved. www.REALTOR.org/realtormag

When will interest rate increases stop? Back in November 2005, interested rates were at 4%, in January '06 it was hinted that we would soon see the end of interest rate increases. Still on May 11th '06 interest rates were increased once to 5%, the highest in five years and now rates are up to 6.75% and it is said we will most likely continue to see increases.

I am of the opinion that even though interest rates continue to creep up the real estate market is finally stabilizing and perhaps it is because of the interest rates going up. I believe the rates have balanced out the pricing and both buyers and sellers are finally realizing that it is not about a "sellers market" or a "buyers market" but finally about a long term investment.

Don't be discouraged, buy now: Plan ahead and act on your future today! Don't wait to see if the rates will be lower the next time the "Feds" meet. Invest in real estate today and you will benefit in the long run. Ask a lender and you'll see.

Buyer, Seller, visitor...what do you think?

VIEW LISTINGS

If you are interested in specific real estate information such as a house or investment property recently listed or sold in your area or any information on any property, you may contact me, Karen Keough at (520) 730-2285 .