Who's Controlling The Real Estate Market?

What does the market hold? We can't "assess" the future, nor can we 'predict' it. We can only make an informed guess based on (very) recent history.

What needs to happen to open up the market a bit?

We need buyers...more importantly, first-time home buyers. First-time home buyers don't bring inventory to the market. They simply bring their purchasing power, which is what we need. They get the market moving, so that move-up buyers can purchase their next home.

With favorable housing prices, a wide choice of inventory and low interest rates, it's an incredible time to buy. If not now, when?

Beware of Winter-Time Fees on Lender-Owned Properties!

If you're planning to purchase a lender-owned property, be aware of the additional fees you'll end up paying.

As we approach the season of overnight temperatures often reaching 32 degrees and below, one of the things consumers need to be aware of when they make an offer on a lender’s foreclosed property is to read the fine print. There are many listings that now state in the remarks that the “BUYER” is responsible, at their own expense, of having the property’s plumbing de-winterized for their inspections and then re-winterizing it when the inspections are completed. I’ve heard cost estimates of $250 - $300 for that service.

Consumers should also make sure that all of the utilities have been turned back on, so that the inspections can be finished in a timely fashion. Don’t assume it’s been done by the other party…double check by calling the utility company.

This is just one of the 'unknowing' charges you may end up paying for when buying a foreclosure property. There are a lot of great values in the market right now. If you're interested in taking advantage of this buyer's market, I'd love the opportunity to help you find one of these properties. Just contact me at dan@danweis.com or 513-615-1890.

Are You Feeling Cash-Squeezed?

In our current economic times, I know many people are struggling to make ends meet with high gas prices (coming back down for now), higher food prices, higher insurance premiums, etc.

You may not be getting pay increases and your company is making you pay more towards your health insurance.

Here are a few strategies I'd recommend to help you through this volatile market:

1. Stop watching the news. What happens in our economy is going to happen regardless of whether you watch TV, listen to the car radio or check out the Internet. Don't focus on the outside world. The news media hype is always selling "Negativity" and it'll only make you depressed. You can control your own thoughts. I know you can't eliminate it totally, but if you focus on what's important to you, like your family, then you'll be in a better mood.
   
2. "Too much month at the end of the money?" With the recent jump in prices for all types of goods and services, sit down and really look at what you're spending your money on. Are there things you can eliminate or cut back on? (If you have premium cable channels, are you getting your money's worth each month or can you change the package and save some money?) If you're relatively close to a public library, you'd be amazed at all of the movie DVDs you can get for FREE....or go to a Red Box and rent DVDs for $1 a day. Can you change the service plan on your landline or cell phone service? It can be another money saver.
   
3. Credit cards are killing people! I recently read where the average family has a $9,000 balance on their credit cards. The credit card companies then skyrocket your interest rate if your payment is late by one day. Credit cards cause people to spend more than they would if they used CASH. Try cash sometimes and see for yourself if you spend less.

Our government wants us to spend, spend, spend to keep the economy healthy, but you need to focus on your own financial health. As you can see, if the government needs more money, they just print it. We don't have that option.

One final point, if you are having trouble making your mortgage payment every month, ask for help. Don't put your head in the sand. There are people who can help you. Call your lender before it's too late. Discover your options. If nothing else, call me and I'll see what I can recommend. Beware of unscrupulous companies out there right now saying they can help you when in reality they are costing you more money.