Taft Dire LLC Real Estate Resources

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8 Tips for Today's House Hunters:

In a market like today's, there are great deals to be found. But we think it's important for home shoppers to find the "right deal." So how do you get started in finding the right home for you? We like to call it "Homework" and here are the eight basic do's and don't's.

1. Do your research. Find the perfect community for you.
2. Don't fall in love at first sight. Look at several houses before you buy.
3. Do invest in a professional inspection.
4. Do buy on needs, versus wants. Make a list of what's important.
5. Don't overbid at auctions, short sales or foreclosures. Know the appropriate value.
6. Don't buy a house based on its decor. Consider your furnishings.
7. Don't believe everything you read in a real estate ad. Learn to read between the lines.
8. Don't buy the most expensive house on the block. Look for a home that is appropriate for its neighborhood, it's easier to sell when you're ready.

Want to learn more? We're happy to share our knowledge and help you find the "right deal."

Should You Buy?

One of the many questions I get is whether or not now is a good time to buy real estate? Of course, the answer is highly individual, and it usually depends quite a bit on your circumstances. If you need a new home, and you can afford one, it's a great time to buy! When you look at the complete picture, there are many tax and financial advantages to owning a home, and homes do tend to appreciate over the long term.

Plus, you've gotta live somewhere, right?

If you do your homework and are opportunistic, you may see a sizable windfall when you sell your house. The idea of investment return should be a minor consideration next to the major homebuying factors such as cost, location, condition, and the big one: Do you really like it?

While it's not a good time if you are planning on doing real estate flipping, it can be a good time if you plan to live in your home for a while, or if you plan to rent it out for investment income. Here's why it might be a good idea to buy real estate now:

1. Home prices are lower in many real estate markets. Sure, they may go lower, but if you are in a market that has a reasonable chance of recovery and reasonable growth, you may not get a better chance.

2. Mortgage interest rates are low. You can get a 30 year fixed FHA rate loan under 5%.

3. Down-cycles are a good time to buy, not only are prices lower, sellers are more negotiable. History says that the real estate market will recover.

The key to buying a house in any market is to do it intelligently. Do your research, hire experts, don't over-extend yourself, put as much money down as possible and buy something you really like. Carefully consider your situation, and determine if you should buy real estate now. You never know when this good an opportunity will present itself again.

Mortgage Matters:

Home loans and mortgages are at the forefront of today's news, but if you're a homebuyer what do you really need to know? Bank of Bend's Doug Amend offers some guidance here.