The important thing to know is that you can measure what you’re up against by just researching the real estate market to see where your current house would be at in terms of sale — and likewise, for some to be more important, where you’re going to be at in terms of buying. It is a catch-22, but if you’re prepared for it, you most likely will get through it unscathed especially if you have the H.O.P.E. Program on your side for credit repair, getting approved with a lender to make a decent offer on a home that seems to fit your expectations. But why? Why is the real estate market such a pain?
Think of the Real Estate Market as a See-Saw
It’ll swing one way, and then the other way. There’s no balancing in the middle — or you’ll get kicked off the playground. You either sit on one end, or the other.
What that means, simply put, is that if your real estate market’s on a hot streak, houses selling like hot cakes, you’ll expect to get your home sold quicker than you can say “TAG!” out in the playground, and for top dollar as well. It’s what many real estate gurus would call the “seller’s market.”
This is where the catch-22 comes in, though. If you’re a seller, you’re also most likely a home buyer as well — and you’ll have lots of questions to ask about the prospect of buying a home. You’ll be on the other side of the playing field, having to deal with the higher prices and competition with other buyers in the area.
Likewise, if the real estate market’s dragging at a crawl, this “buyer’s” market will offer very low prices, hence you’ll have a hard time finding someone willing to pay enough money for your bottom line. Sure, you might have an easy time finding a great home at a low price — but you’ve got to get out of your home first, right?
Working With a Great Real Estate Broker and Lender
The real estate market is a tricky landscape. Having a suitable guide will help a ton, especially when your bottom line’s on the line. This is just one of many questions you should ask about when it’s a good time to move and buy a new home. Where’s the real estate market sitting? Find out. Ask now and get with one of the specialists at H.O.P.E. to Own for more information.