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Larry Sarlo's HouseSold Blog

New Jersey Real Estate News and Information

By Larry Sarlo 609-868-1171 | Agent in Camden County, NJ

Buy a Home or Rent? "I shoulda, coulda, woulda, Don't be a Shoulda" !

Rents are going up....   In fact rents will always go up...  More investors with cash are buying real estate now just to rent to others because rents are increasing. I've never seen such profit in rent since 70's, not even...

Buyers who can buy, but don't, don't understand the process.  Some are afraid because of the news being reported.  Move up buyers are comfortable where they are waiting to retire and move down.  Listen to news and you hear banks are not lending...NOT TRUE!

There are strong temptations to buy a home now as indicated in the Wall Street Journal.   4% interest rates which have not been heard of since 1940's.  Home values have decreased to 2001 some places even more,  all while income levels increasing since 2001.  Someone working at "Burger Queen" can buy if they qualify; 2 years on the job, savings for a down payment of 3%, and FHA loan gets them in a home paying same or less than rent.  Do you make the same as 2001?  It's practically impossible unless you are unemployed and then the government has extended benefits so you can survive to keep most out of poverty levels.  Thats another issue... But don;t let that discourage you.  Many lender representatives can help fix your credit once you are back to work in a very short time. 

As the economy starts to turn around and get better;  Home prices will increase, interest rates will increase and opportunity will be for those that did not take advantage,"I shoulda, coulda, woulda,  Don't be a  Shoulda"   
You have to be able to see opportunity, but you also must take advantage of it to prosper!  You will be much happier in your own home rather than renting.  Pride in ownership is important to us all.

Buy a short sale now, You will not have a better time.  Prices will not increase as fast they did in last few years but certainly will increase another 10-15% in next year...  Lending will begin to ease as rates increase to 5%-6%-7%  Inventory levels are already decreasing along with shadow inventory. decreasing.  This is a good opportunity now!  But waiting could mean afford ability of only a smaller home.  higher rates coupled with increase home prices will make afford ability different.  Larger down payments may be needed also.  You may see more points and concessions being given but as inventory levels decrease buyers will have less opportunity to get the home of their dreams.

Short Sales in Cherry Hill NJ and any place create excellent opportunities to buy with instant equity. Waiting for foreclosures will get you into bidding wars and higher prices.  Usually foreclosures are in distressed condition also.  These are homes that could not sell as short sales mostly.  Your best opportunity is to buy a Short Sale but only deal a with a professional experienced in short sale.

Looking to Buy a Short Sale with experience on your side:  Contact Larry Sarlo A RE/MAX Preferred agent servicing Camden County, Gloucester County, and Burlington County.

Search foreclosures and short sale here: SHORT SALE DEALS

Search the MLS on your phone by Text:   In the subject line on your mobile phone- LSAR1 -to number 87778 ... hit send... A GPS feature for listings at your finger tips

Larry Sarlo  CDPE  (Certified Distressed Property Expert)
A RE/MAX Preferred Professional
609-868-1171 call / text / email 7 days

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