Most markets have signs they’ve hit the bottom; Florida and Southwest’s plight continues, not Myrtle Beach

The Case-Shiller home price index for major housing markets increased more than 1 percent in July from June, the third consecutive small improvement. Unfortunately the data is two months old. Other, more recent, housing market measures suggest that prices have continued to rise through September, although the pace of gain may have slowed. The cumulative rise in home prices through September is probably about 2 percent. This leaves home prices still about 30 percent below the previous peak level. Nonetheless, the change in trend is significant.

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PAWLEYS ISLAND, SC HOMES

Buying Steps, Easy As 1-2-3The decision to purchase a home can be an immense decision. You first need to ask yourself questions like, Where do I want to live? What type of neighborhood? What can I afford? Following the three steps below just may help with the decision on starting the process to finding your dream home.Step One:  For example, do you like to golf? If you do, you might want to look only at golf course communities.In What Kind of Neighborhood do I Feel Comfortable Living?

It is as easy as 1-2-3.

If you like to boat or fish, you may want to look at neighborhoods near a waterway or the ocean.

Are you tired of doing lawn maintenance? If so, you might want to look only at town homes and condos.

Step Two: How many rooms do you need? Think of adding an extra room for company.What Kind of Home do You Need?

Do you have children? Maybe think of having a bonus room.

Do you need large amounts of storage or parking? What size lot suits your needs?

Sit down and make a list of things you need, as well as things you want.

Step Three: What is your budget? Getting a loan pre-approved will help you decide what this amount could be.Now, Crunch the Numbers…

What upcoming financial expenses have to be considered? Getting married or having a child needs to be factored into your home purchase decision.

Once you have itemized all of the details you want in a home, you are ready to contact a Real Estate Agent. Being able to communicate your needs and wants in your future home, will better assist your Agent in finding the perfect home for you.

RISMEDIA, September 18, 2009—(MCT)—Tired of paying rent and enticed by a first-time home buyer tax credit, 25-year-old Garrett Rebel began his search for a home in August, scouring the suburbs of Dallas for a house to meet his current and future needs. And he’s already running out of time. 

The federal tax credit for first-time buyers is “a huge motivator” for Rebel, and he may end his search if the Nov. 30 deadline arrives and he still hasn’t closed on a deal. He unsuccessfully submitted an offer on one house; after going back and forth with the seller couldn’t come to a price agreeable to both parties. “I haven’t found anything that I’ve fallen in love with,” Rebel said. 

Read more: http://rismedia.com/2009-09-17/the-clock-is-ticking-as-first-time-buyers-intensify-their-house-hunting/#ixzz0RSpC08Wt

Sellers, Good News:  

How Credit Scores Work

History

The credit scoring system became prevalent during the 1980’s as a way for lenders to quickly evaluate a potential borrower’s creditworthiness. This came about in an effort to streamline an easy and consistent way to evaluate a consumer’s credit. The system was developed to accurately predict financial risk over time and grew to several different industries. Now credit scoring is used by lenders, insurers, landlords, employers, utility companies and even judges to evaluate your credit behavior.

For More Info CLICK HERE

Congratulations! You’re almost through the toughest year real estate has seen in a very long time. Now it’s time to focus on recovery and putting your systems in place. You can see from the clip we just watched a glimpse of what the future will hold.

Did You Know Video

I’ve been saying it for months, and I’ll say it again.

NOW is the time to get off the fence and buy.

Why am I so convinced that the time is now?

Well, it’s a combination of things. Regardless of whether you’re building a new deck, or whipping up a batch of cupcakes, you need the right ingredients in order to insure success. For the Buyers considering a purchase, the right ingredients are at hand.

Today, right now, is the time to act. Here’s why:

Mortgage rates are low, lower than they have been for many years. In fact, they’re approaching historic lows! Yes, you actually have to qualify for a loan now. But, I guarantee you there are lenders out there who are ready, willing and able to lend you mortgage money at very attractive rates.

Inventory levels are high. Unfortunately for sellers, buyers have an enormous number of homes from which to pick. In many markets, inventory is at an all time high. As a result, buyers no longer have to “settle” on a home that’s not what they want.

Sellers are motivated. Whether they are in trouble with their financing, worried about their employment or having to make many lifestyle changes as a result of losses in the stock market, many sellers need to sell and are willing to negotiate accordingly.

First-time home buyers can also get a $8,000 non-repayable tax credit from the government. And you can apply it to either your 2008 or 2009 taxes.

We may have already reached the bottom of the market. Some buyers are still waiting, trying to buy at the very bottom of the market. Funny thi g about that – you never know you’ve hit bottom until prices are on their way back up. And many buyers don’t realize than an increase in their mortgage rate will completely eliminate any advantage they may have gained by waiting for prices to decrease by a few thousand dollars more.

So, yes, I feel strongly that buyers who don’t make a move right now are missing a huge opportunity.

www.FindYourMyrtleBeachHome.com