The real estate activity in our market seems to be increasing and more buyers are looking for a home to buy. Buyers are realizing that the affordable home prices and low interest rates make this a great time to buy a home.
Todayâ€™s buyer is often able to buy a home less than rental prices. Low payments gives assurance to buyers that if something happens and they canâ€™t make the mortgage payment, they can always rent the home. We need to get the message out that this is a great time to invest in real estate.
Prudential California Realty
The economy has moved back from the cliff. But give people a little while to recompose themselves and get back to doing the things they do when the world doesn't seem in crisis. Business people and workers can get back to the business of expanding business and maybe hire a few.
Seasonal buying is just around the corner. I think it is going to be a good year.
I've attached a link to a piece I posted here on Trulia not all that long ago. It's been one of my popular posts in the past 90 days and I've picked up over half a dozen buyers in my market directly related to their having read it and then spoken with me. What people seem to like is having the numbers clearly laid out for them so it's easier to grasp.
This is just one example, what every agent needs to do when their not as busy as they want is to take the time to focus, set a realistic goal and then take the action necessary to achieve it. Use the laws of entropy to your advantage, â€œA Body in Motion Tends to Stay in Motionâ€
You could use the same format I present here and tweak it to fit your local market, the numbers will be different but my guess is the end result will be the same, that it often makes more sense to buy then rent particularly given the lower market prices coupled with the lowest interest rates in my lifetime. PS be sure to check out part II where after enough requests I took all the written material and condensed it into a simple spreadsheet.
Think positive, be positive and go get busy.
I would have to concur with David and infuse fear as one of the factors why renters are hesitant to buy given the most ideal and favorable conditions which should be taken advantage of: the historical low mortgage interest rates and the pool of move-in-ready homes at low prices. With the two factors added into a formula for a fully-amortized monthly payment including the taxes, PMI and homeowner's insurance, the mortgage payment can be less then the rent.
And even if the mortgage payment is slightly higher or higher by a couple hundred dollars, the tax benefits will offset the difference.
My second reason would be "the renters do not have a clue on how to start the process." And this is unfortunate for the qualified buyers who has no idea that she/he is on her/his merry way to home ownership.
We will never, ever see 3.75% interest again in our lifetimes. Talk to everyone, get out and hand deliver 50 flyers around every open house. When you get a buyer send out 100 post cards in the area that buyer wants to live.
You will start a steady stream of leads. You must make a financial and an emotional investment.