| The old adage that "timing is everything"
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| | If you're passionate about an upscale
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| especially applies to buying a new home.
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| | area - and on a budget - prepare to buy a
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| And trying to be at the right house at
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| | fixer-upper and invest some money in
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| the right time and get it for the right
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| | renovation. Conversely, beware of buying
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| price can be tricky. Here are some
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| | a beautiful home in a marginal area. You
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| guidelines to assist you:
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| | may not get your money back when you
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| - Turn to the real estate section of your
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| | sell.
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| Sunday newspaper. Monitor the market and
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| | - Keep close watch on the fluctuating
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| tract home prices. Expect to spend 90
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| | mortgage interest rates. Low interest
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| days watching the real estate market
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| | rates are the most inspiring reason to
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| through advertisements. Question and
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| | buy property. Watch the rate of United
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| investigate homes that are advertised
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| | States Treasury Bills. According to
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| month after month. Hard-to-sell
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| | Sonny Block, well-known talk show hose
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| properties could either be a warning sign
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| | and real estate author. T-bills are a
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| or simply overpriced for the value.
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| | sure way of predicting the rise and fall
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| - When a real estate agent provides you
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| | of mortgage rates.
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| with descriptions of homes currently on
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| | - Also watch the national Discount Rate,
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| the market from the Multiple Listing
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| | the rate at which banks can borrow money
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| Service (MLS), ask for a list of homes
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| | from the government. When the Discount
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| that were on the market within the last
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| | Rate drops, banks pay less for borrowing
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| six months or year in the same
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| | the money and in turn reduce mortgage
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| neighborhood. Compare asking prices to
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| | rates to the borrower.
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| actual sales prices for the same type
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| | Predicting when a market is ripe for home
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| homes.
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| | buying is not an exact science - even for
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| - In addition to monitoring housing
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| | real estate experts. However, by
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| prices, learn to identify hot,
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| | following these simple tips - and staying
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| up-and-coming neighborhoods by tracking
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| | on top of real estate trends, sales
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| selling prices from week to week. If one
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| | patterns and interest fluctuations, you
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| neighborhood experiences price booms
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| | are sure to get the best house for your
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| while other house prices are sluggish,
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| | buck.
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| its' clear which community to invest in.
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