Doomsdayers and naysayers are having their field day. For years, they've been predicting a drop in h
Doomsdayers and naysayers are having their field day. For years, they've been predicting a drop in home equity. And, thanks to a much-needed roping in of runaway inflation by the Federal Reserve, interest rates are not such a hot deal any longer. Many are taking the "sit, wait, and watch" a roach, but you want to take action. Lucky for you, there are advantages to be drawn from this dying horse.
Advantage 1: Home Buyer's U er-hand
If you're a pro ective buyer, congratulatio ! You now have the u er-hand while negotiating with agents. What this mea to you is that you can push for that down payment credit, cosmetic repairs, or -- in some cases -- a new car.
Agents and sellers are "motivated." Motivated in real estate lingo often mea that you get a bunch of free stuff, just for buying a home. But, beware! Don't settle for an above-market home price just because of the free car.
Advantage 2: Home Equity Improvements
If you feel comfortable drawing on your home equity, then take out a home equity loan and make those much needed repairs. It will up the value of your home while you're waiting for the market to pick up.
Advantage 3: Risin' Rents
If you're co idering buying as an investment, there's one advantage this market offers: Higher rents. Renting out your home can help put money towards your home mortgage while you're waiting for your available home equity and value to increase.
Source:http://www.nysun.com/article/38605
Advantage 1: Home Buyer's U er-hand
If you're a pro ective buyer, congratulatio ! You now have the u er-hand while negotiating with agents. What this mea to you is that you can push for that down payment credit, cosmetic repairs, or -- in some cases -- a new car.
Agents and sellers are "motivated." Motivated in real estate lingo often mea that you get a bunch of free stuff, just for buying a home. But, beware! Don't settle for an above-market home price just because of the free car.
Advantage 2: Home Equity Improvements
If you feel comfortable drawing on your home equity, then take out a home equity loan and make those much needed repairs. It will up the value of your home while you're waiting for the market to pick up.
Advantage 3: Risin' Rents
If you're co idering buying as an investment, there's one advantage this market offers: Higher rents. Renting out your home can help put money towards your home mortgage while you're waiting for your available home equity and value to increase.
Source:http://www.nysun.com/article/38605
