loan

subject: Buying Home tips in U.S. Kevin Chinnock [print this page]

Buying Home tips in U.SBuying Home tips in U.S. Kevin Chinnock

Timing is perhaps the biggest concerns among many prospective home and property

buyers today, says real estate and property consultant Kevin Chinnock. It's certainly

no hiding that property prices have plummeted considerably in several regions around

the country in the last three years. As uncertainty looms large whether the prices would

recover, many buyers are in a quandary on whether they should buy a house or wait to

see if prices drop further.

The complex market of real estate in undeniably confusing, says Kevin Chinnock. With

record price drops and low interest rates, a large number of homes in the current market

will certainly appear to indicate that this is the correct time to buy. But some buyers

are hesitant to take the leap. That's certainly understandable with tightening of lending

restrictions and foreclosures that have attained an all time high and with quite a degree of

uncertainty on housing values. Kevin Chinnock explains.

Perhaps the most important factor or guide to be considered while contemplating buying

a home is how long you intend to stay in it, Kevin Chinnock says. There's no denying

the fact that property prices might continue to drop. If you're buying at present rates, you

must keep the house for a considerable time. This is because despite the market being

gloomy, prices are expected to bounce back in the future. This isn't the first time that the

property market has witnessed a slump and like earlier instances, real estate expert Kevin

Chinnock expects that the phenomenon would eventually slide.

Buyer having cash for down payment and have zeroed upon the property that interests

them might just want to go ahead and buy their property rather than wait, feels Kevin

Chinnock. Currently, sellers are more eager to negotiate as regards the terms and price.

When the market bounces back and swings towards being more of a seller's market, the

bargaining and price negotiations would probably disappear, warns Kevin Chinnock. So,

if the buyer intends to stay in his new home for nearly five years, they are unlikely to risk

losing money, even if prices nosedive further before finally beginning to recover.

Currently, not only does a buyer have an incredible amount of leverage as regards price,

there are several other types of sellers' concession which are being offered, points out

Kevin Chinnock. One of these is the ability for frequently negotiate closing costs. In

most cases, sellers are willing to bear a portion of a buyer's closing costs, should that

translate into them selling their home faster. These could free more money for the buyer

either to contribute towards the cost of down payment or save or bank hard cash which

they could use.

Finally, the decision as regards to whether this is the correct time to buy a home or

property is a personal one, says Kevin Chinnock. However, any apprehension that real

estate prices might drop further must not appear as frightening enough which could

deter a serious property buyer from exploiting the advantages of the current market, says

Kevin Chinnock.

welcome to loan (http://www.yloan.com/)