where you are trying-to buy a home: DOES impact the value
of your home-- sadly, as-in DEPRECIATION. Sources to read:
RealtyTrac, City-Data, as well as Trulia. Do your CMA before you buy!
Unfortunately, we are seeing foreclosures and short sales in every neighborhood. I specialize in homes in Burlington and Camden counties and we have homes at the high end of the market where our sellers are experiencing difficulty in paying the mortgage. I think the biggest problems were the adjustable mortgages and then we had inexperienced so called "investors" who thought they were going to make a fortune. Unfortunately, they bought at the height of the market and then overimproved the property.
Although real estate is an investment and we all hope for appreciation, it is also your home with tax deductions. You are buying at an excellent time with good inventory and fantastic mortgage rates. Unlike five years ago, you should be able to take your time to find the right property and then possibly negotiate the price.
Broker - Sales Associate
Weichert, Realtors - Moorestown
856 235-1950 x 140
609 680-8490 cell