Successful Home Ownership IV – Do Your Market Research
Author: Evan Vanderwey
Website: http://www.lansingmimortgage.com/successful-home-ownership-i…
The Case Shiller Index gives a national and regional home prices overview, and indications are that now is an excellent time to buy a home. That does not mean that someone can’t pay too much for a home in today’s market.
When you’ve decided about the area in which you would like to live, set up a meeting with a full-time Realtor, preferably contracting with a Buyer’s Agent, one that you were referred to or already know and trust.
When you’re looking at a particular home, make sure you obtain ALL listed and sold homes in the area surrounding that home. The listings should all be active listings, and the sold homes should be from the last 6 months if there are any. Going back a little further can be helpful to give a little bit of perspective to the price – the farther back in time the sale closed, generally speaking, the higher the sold price will be (as of the date of this writing).
You also need to know what the Assessed Value of the home is as well as the Taxable…
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