Sally English, Real Estate Pro in Atlanta, GA

What would help you decide to buy a house in 2013?

Asked by Sally English, Atlanta, GA Thu Jan 3, 2013

Are you waiting on Washington to make some decisions? Is job security a factor? Are you saving up for a down payment? Help real estate professionals understand your home buying decisions. Thanks. Sally English

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3
Ken Guillen, Agent, Duluth, GA
Thu Jan 3, 2013
BEST ANSWER
Sally,





If I am a buyer and other than my personal desire, the two main motivators are as follows:

1. Low interest rates....they are great and will likely rise!
2. Home prices are still lower and have not returned to 2009 levels. They are on the rise and it is
best to take advantage of these lower prices.

In combining these two advantages a buyer should be at a distinct advantage.As interest rates rise as well as home sales prices payment increases would be noticed. For example it is $4.50 per thousand at 3.5% and $6.00 per thousand at 6%. A home at $150,000 would have a payment that is $$225 more at this higher rate not only a substantial amount but one previously thought to be a good rate.

If overspending in the current administration causes another recession and we flatten out again on homes prices, it might delay appreciation but rates will likely climb and still leave an advantage. Fortunately, they did not remove home deductions for interest. (Not being political, just factual)

Ken
0 votes
Sally English, Agent, Atlanta, GA
Thu Jan 3, 2013
Ron,
You are way out of line. Asking buying why they are making decisions is the best way for Realtors to better serve the community.

Buyers in today's real estate market are making independent deicisons and lead the way in a home purchase. Real estate agents who try to control information or bully their buyer clients find they are out in the cold.

Savvy home buyers are looking for agents who are responsive to the market. They dont want drill sargents OR order takers.

Home buyers want agents who LISTEN.

If you cant add something positive to the conversation - stay on the sideline.
Web Reference:  http://englishteam.com/
0 votes
Susan Jackson, Agent, Atlanta, GA
Thu Jan 3, 2013
Sally,
If I am a buyer and have my down payment, even if my down payment if not quite 5-10%, there are FHA loans which will allow for 3.5% downpayment. However, the credit score needs to be at least 640, with all that said, this would be a optimum time to purchase a home. Interest rates are low and will proably remain that way for 2013, making owning a home very affordable. Housing prices here in the Atlanta area are still at January 2000 levels, which again makes home owning very affordable. Tthe buyer does need to keep in mind another factor, in comparison to two to three years ago, the inventory of available homes has shrunk. Time to hop off the fence and purchase.
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