Why Buy?

Despite the massive amount of information that is available- both for agents and lenders- as well as the general public, there still seems to be plenty of things that are unknown. We worry about things that we never have before, like whether home values are still dropping, whether we will we lose our jobs, about the war that never ends, and gas prices that seem to never stop rising. Through all this, we forget the real reason for buying a home: to have a place to live.

Throughout the real estate boom and subsequent bust, people speculated by buying property and some people even made money. That is because real estate is a good investment that does always appreciate over the long term, but it requires experience, skill, and a little luck to capitalize on the speculation of real estate.

For the average homebuyer, just realize why it is you need to buy a home. The key reason is for your family to have a place to live, but of course, things happen, and you might be forced to move. Even in those circumstances, you should be able to benefit from steady price appreciation as you pay your loan principal down.
Visit www.scottmillerrealestate.com to search the MLS database for listings that might interest you. You can also find links to blogs on particular zip codes, including Aberdeen, Havre de Grace, Bel Air, Edgewood, and the Greater Baltimore region.

If you have a home to sell, please visit this link to sign up for a FREE MARKET DATA REPORT for your area. This will give you regular updates regarding home sales for properties near you.

Be Decisive

If you have been even mildly paying attention to the real estate market in our area recently, you would know that there are great deals to be had. Prices are down to what experts have indicated are "2004 levels," and we are expected to see an increase in the number of foreclosures listed by the banks in the next few months. Interest rates are still at rock-bottom lows, so this is the perfect recipe for a buying situation.

The economy is also improving. Unemployment has dropped to 8.5%- almost overnight- and some of the problems at the global level have started to stabilize. While lending practices are still rather outrageous, loans are being made, and people are buying homes.

There is a trick, however, which is to avoid the desire to be hesitant. With the internet these days, you have the opportunity to continually search for the right home, but when it comes time to purchase, you have to put some details in place. For instance, a mortgage preapproval allows you to shop with confidence, knowing how much house you can buy, so that is definitely your first step. Contact me for information regarding reputable lenders. Also, identifying your needs versus your wants is just as critical, because you are unlikely to get everything you want in a home without spending $1 million!

Make sure you are ready to buy when you start shopping, because, despite what you might read, homes don't stay on the market forever. Although the home sales figures haven't increased drastically, the market is becoming more efficient, with sellers realizing the reality of the market, thereby pricing their homes to sell. The house that you saw today might not be there next month.

This market has been unique, and our approach to it should be strategic. Remember, no two deals are going to be the same, so make sure you enter the home buying or selling process with an open mind. For more information about buying or selling in this market, please call Scott Miller at (443) 866-6728 or email him at scott@scottmillerrealestate.com.