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Buying Your Home


HOW TO BUY

WHERE & WHAT TO BUY

The word is out that the home sale market has started to change and more homes are becoming available for buyers. Over the long term, home prices have tended to rise in the Orlando area. But, they do fluctuate over time. It's impossible to time the market, but still, you won't realize any appreciation unless you're a property owner.

We're coming out of a period of extreme appreciation. In many areas of the country homeowners who bought two to three years ago and then sold did very well. But, this is not the norm. Your home purchase decision should not be based on the anticipation of continued appreciation at the recent rate. And, in most cases, it's not a good idea to buy for the short-term.

Even though the market has started to slow and appears to be heading towards a more sensible, balanced market, you may encounter competition for well-located, well-priced listings. But, where inventories are rising, you can expect to have more selection and more opportunity to negotiate with the seller--either on the price or on concessions for property defects.

Be on the lookout for sellers who are out of sync with the changing market. Buyers often have a good grasp of current market conditions, while sellers seem to be the last to know. The slowing of the upper-end market is in part due to over-pricing on the part of sellers, many of whom price their homes assuming that home prices will continue to rise at a breakneck pace.

And, finally, to sweeten a contingent sale offer, ask the seller for a short time period to find a buyer for your home - say three weeks. If your home is ready to go and you price it right, you just might sell in time..

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Orlando Real Estate Agent John HambrickOrlando Realtor Angela Chapman
Orlando Real Estate Professionals


407-207-5550


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