Mortgage

Twelve Rules To Remember

When you are making a decision about real estate investing, remember the following twelve rules:

1. Location, location, location – buy a smaller home in a better location than a larger home in a poor location;

2. Buy during a buyer’s market, sell during a seller’s market;

3. Study the market where you are planning on buying before jumping in and buying property;

4. Remember that the market fluctuates – do not panic if the prices drop, that’s when you lose money.  Hold onto your investment until the market rebounds;

5. Look at real estate as a long term investment;

6. Look at any home that you purchase as an investment – always look for resale value;

7. Consider new construction;

8. When buying a foreclosure do not allow a real estate agent to bully you into offering more;

9. Understand rental law before attempting to purchase rental property;

10. Consider purchasing a lot and building your own home;

11. Understand which mortgage is right for you;

12. Don’t pay someone else’s mortgage when you can be paying your own.

If you have been watching the real estate market for the past year or so, you can see that the market is in a slump.  It’s all over the news, in every media.  Each day seems to bring new woes.  However, if you have been watching the real estate market for the past two decades, you can see that this slump is one of many.

The slump will not be forever.  But before it is over, a lot of people will go through some hard times.  This is the time to take advantage of the buyer’s market and protect yourself by thinking of a long term investment that will benefit you in years to come.

Mortgage

Tight Mortgage Availability Strains Sales

Existing-home sales were down 2.2 percent in August due to strict lending criteria.img src="http://feeds.feedburner.com/~r/RealtororgHomePageHeadlines/~4/YKoTOodhbuY" height="1" width="1"/