Renting is Getting Costlier

In the old days; it was easy to argue that renting was more affordable on a month-to-month basis. In other words, monthly rent payments were often drastically lower than average monthly mortgage payments. That is becoming less and less true. In fact, it’s often possible to get a mortgage with a monthly payment that is significantly lower than the payment that goes along with the typical apartment lease. Renting isn’t always cheaper, and you could save a lot of money by purchasing a home instead.

Interest Rates are at Record Lows

When it comes to buying a home, interest rates have never been lower. In recent months, they have dipped down to record lows. The overall expense of getting a home loan is, therefore, considerably lower than it used to be. The same is true about home refinancing. By refinancing right now, you could secure an exceptionally low interest rate that lowers your monthly payments by a significant margin. The real estate market may not be in great shape, but low interest rates mitigate a lot of that.

Housing Prices couldn’t be Lower

In just about every part of the country, housing prices have dropped precipitously. While that is bad news for the people who currently own those homes, it’s great news for people who are looking to purchase new homes. Prices are expected to drop a little lower too. They aren’t expected to start rising again for the foreseeable future, but that doesn’t mean that you should wait. Thanks to these low prices, you can probably afford a nicer and larger house than you could even a few years ago.

Buying a House is Still a Smart Move

Whether home values remain the same or go up, buying a house is still a very viable option. Unlike renting, you will be investing your money in something that will provide long-term benefits. That is true even if you don’t end up making a lot of money when selling the house at a later date. As a homeowner, you will be able to call all of the shots when it comes to updating and remodeling your home. There is a lot of satisfaction to be had from owning a home, and there has never been a better time to buy.

Incredible low country home situated on a private 2.48 acre cul-de-sac homesite. This 2 story home has a fully finished basement and features 5 large bedrooms and 4.5 baths in over 4800 square feet. A charming wrap-around front porch invites you in to this beatiful home with hardwood floors, fresh paint thoughout and new carpet. Call today for a tour!

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Transitional 6 bedroom, 5 bath home in desirable Deerfield Creek neighborhood. Quiet cul-de-sac location backs up to woods. Beautiful home with an open floor plan featuring soaring windows and high ceilings. Huge kitchen with granite counters, hardwood floors and lots of cabinets. Walk to community pool! A must see!

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Built in 1804, this beautiful historic home has been updated with new wiring, plumbing and central air and heat. Situated on almost 1 ½ acres in a prime south Charlotte location. Beautiful historic details accentuate the style and charm of this amazing home!

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Maybe the buyer has fallen in love with your home . . . except . . .

The master bathroom is too small
A gas fireplace would be better than a wood-burning fireplace
The kitchen needs granite countertops
Hardwood floors would be so much better
The front door must be covered

And on, and on, and on. You just lost a potential buyer – or did you?

Savvy agents will take these comments and work them to the seller’s advantage. How? By taking the feedback/idea, and working it into a potential offer on the home.

For example: the buyer would buy a listing held by Schwebel & Associates of Prudential Carolinas Realty, except all of the bedrooms but one have direct access to a bathroom. We receive this feedback and become proactive. We contact 2DIFOR Builders.

2DIFOR Builders specialize in strategic home alterations. Strategic home alterations is a tool for real estate agents to custom tailor that perfect fit for their client. There is no cost – 2DIFOR Builders simply offer feasibility options and budgets for changes to the home during the buying and selling process.

Schwebel & Associates presents 2DIFOR Builders with the information about overcoming the buyer’s objections. 2DIFOR Builders will assess the situation, determine possible options and budget the alterations. Armed with this knowledge, we can then present options to the buyer’s agent.

From there, the cost of the alteration might be negotiated in the selling price of the home, or it may become a condition of the sale.

Strategic home alteration also works equally well for our buyers. If we show them a home that is perfect except for . . ., we can offer the services of 2DIFOR Builders to help them to realize their perfect home.

Not every buyer has the ability to ‘see’ a home with potential changes, and certainly most won’t have an idea of the costs involved. Our solution is to help them with the process and at the same time, find them the perfect home at a good price.

With the amount of inventory out there, every advantage that we can offer to our buyers and sellers can only help them to achieve their goals; to find the perfect home, or to sell their home in a timely manner.

The old adage, “buy low sell high” hasn’t changed, but it now has a new twist. Savvy buyers take advantage of the overall market being down a certain percentage from the high.

For example if the overall market is down 10% then a home that was $500k is now $450k and a home that was $200k is now $180k.  If you sell the second home and buy the first you lose $20k on the selling side, but on the buy you gain $50k in potential equity for a net gain of $30k. Obviously this is a simplified example, but the point is the same.

Let us know if you think this may be an option for you.  As the economy shows signs of warming up the window of opportunity shrinks every day.

This article from Homes: Sell at a loss, buy at a discount