The steady direction and pace with which housing markets are changing are major indicators of future strength of the housing industry and impending home shortages. With the recent announcement by the federal government that it is extending the program of home stimulus to include the construction industry, the outlook for home sales has become even more encouraging for both sellers and potential buyers. The sharp increase in inventory is expected to result in an increased demand for homes on the sale block. As the supply of homes increases, prices for homes should begin to decline. This process will occur as the inventory levels return to near their historical average levels and the number of homes available for sale becomes fewer.
Although the government has announced the start of its first round of home stimulus programs, many observers expect that there will be a second round of housing starts before the end of this year. Some analysts believe that the current housing start is already starting to level off. Others believe that we are still in the early phases of a recovery. Regardless of when we start our recovery, one thing is certain. A large number of people who are looking to purchase affordable housing will have little difficulty locating an agent who is advertising in their area.
One of the most important indicators that you need to be aware of when evaluating listings in your area for sale is the response from the local real estate agents who are representing the sellers offering the homes for sale. Are they responding to the growing demand for low-priced homes? If not, it may mean that these are people who are just selling these properties because they are not ready to commit to a long term lease with a buyer. If you find that most of the response you receive from the agent you are talking to regarding a particular piece of real estate is negative, it may be best to move on. Your chances of finding a more responsive agent for your next purchase will be diminished greatly if you continue to do business with someone who is only in the business to sell you properties for the amount that you can pay up front.
When you find a list for sale that contains more than one house that has been listed at equally high asking prices, you should take the time to conduct at least two pre-submissions to each of the properties. Unless the seller is offering a below market price, it is necessary for you to see the condition of the home before committing to purchase it. In my opinion, this step should be taken even if you have had success at negotiating a price that was close to the asking price for the comparable nycha-owned property. This way, you will have first hand knowledge of what to look for and have a better idea of whether or not the seller is truly trying to keep the house in good condition.
The condition of a house is one of the most important indicators that an individual owns a nycha-owned property that is in an excellent location. In order to determine which homes are asking too much and which homes are priced too low, conduct two visits to each of the two sites. Once you have visited the site with your Realtor, bring your checklist with you. If you have already visited the site with your Realtor, note the address and contact information on the checklist. Then, visit the properties individually.
After you have found at least one home that meets your criteria for consideration, the next step is to schedule at least two pre-submission conferences. Conducting two pre-submissions allows you to meet with the sellers face-to-face, so there is a more secure and sincere dialogue than if you met with an agent at the office. Make sure the Realtor and the seller schedule the conference a minimum of six months prior to your purchase. Most agents believe it takes three to six months for buyers to make their decision. Please include a clear timeline as well as any contingencies.
When you select a housing agent to list your home with, be sure the listing agent has the names of at least three other housing agencies. These agents may be willing to negotiate with other sellers on your behalf in order to increase your listings or even find you a larger housing group to list your house with. When you find at least two agencies you feel will work for you, invite both agents to the meeting.
The information provided here should help you find great housing quickly. Remember that housing agencies often handle thousands of properties a year. This means that their system can be complicated and not always easy to navigate. When working with housing agencies, be sure you have plenty of time for thorough communication.