One of my readers asked me to expand on one article I had posted two days ago about the importance of sharing information during a sale process. So I have found an additional video by Barbara Corcoran, one of the retail real estate experts on the market, that gives some general advice on how to view the real estate market today from the view point of an end buyer or a seller.
Video by Barbara Corcoran.
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She lists five myths:
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“Sellers are desperate”. This might be true for one tenth of home owners trying to sell their house. The other ones can wait until they get the price they want or something close to it. So an house that has been on the market for a long time is not necessarily going to become sold at a very discounted price (unless it is from a bank, I would add). Focus on the motivation to sell, not the time on the market.
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“You are stupid to buy before prices really bottom down”. Although prices might still be going down in some markets, if you wait for them to recover it will be too late, because then they will be going up and you’ll have strong competition. The market takes a long time to unwind, but when it turns around it turns around quickly!
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“You cannot buy a home today with less than 20% down”. Actually FHA asks 3,5% down plus 1,5% for insurance, and you can ask the seller to cover the closing costs.
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“Now it’s the absolute worst time to sell”. It depends on the market where you are, some markets are already recovering.
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“Before you refinance shop around”. The truth of the matter is you can get the best deal from your current lender.
This gives some ideas on what goes through the mind of buyers and sellers today in the real estate market. I would add that now it is the best time ever for international investors to buy and hold.
Roberto Mazzoni
Hi,
Amazing! Not clear for me, how offen you updating your robertomazzoni.com.
Nicolas
House selling myth # 3: “You cannot buy a home today with less than 20% down” http://robertomazzoni.com/real-estate-in...
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House selling myth # 4: “Now it’s the absolute worst time to sell” http://robertomazzoni.com/real-estate-in...
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@robertomazzoni Less than 20% down. I wish this would be possible in China
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@robertomazzoni With real estate prices at an all time high, it’s the worst time to BUY in China actually.
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House selling myth # 5: “Before you refinance shop around” http://robertomazzoni.com/real-estate-in...
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@robertomazzoni Hey,a great way to buy a home is to find someone who will give you a baloon mortgage and you just pay interest then sell it.
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House selling myth # 1: “Sellers are desperate” http://robertomazzoni.com/real-estate-in...
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@robertomazzoni No doubt.. I’d say owners are the desperate ones right now. Keeping your head up in these times is a major obstacle for some
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Five real estate myths that can prevent you from selling your house effectively http://robertomazzoni.com/real-estate-in...
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@robertomazzoni agree – too many myths and not enough facts + commom sense
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Myth #6) “It’s a great time to buy”… this one is uttered every day, week, month or year by realtors regardless of the market or conditions.
[...] more about new business ideas and Roberto Mazzoni is president of several international ventures specialized in personal [...]
[...] more about new business ideas and Roberto Mazzoni is president of several international ventures specialized in personal [...]
[...] more about new business ideas and Roberto Mazzoni is president of several international ventures specialized in personal [...]
[...] more about new business ideas and Roberto Mazzoni is president of several international ventures specialized in personal [...]
[...] more about new business ideas and Roberto Mazzoni is president of several international ventures specialized in personal [...]
[...] more about new business ideas and Roberto Mazzoni is president of several international ventures specialized in personal [...]
[...] more about new business ideas and Roberto Mazzoni is president of several international ventures specialized in personal [...]
[...] more about new business ideas and Roberto Mazzoni is president of several international ventures specialized in personal [...]