{"id":3466,"date":"2008-07-23T15:37:27","date_gmt":"2008-07-23T22:37:27","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=3466"},"modified":"2008-07-23T13:40:49","modified_gmt":"2008-07-23T20:40:49","slug":"the-top-7-things-every-home-buyer-should-know","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3466\/the-top-7-things-every-home-buyer-should-know\/","title":{"rendered":"The Top 7 Things Every Home Buyer Should Know….."},"content":{"rendered":"
\n

Okay, yesterday, I dealt with the theoretical and philosphical in our discussion of moral hazard.\u00a0\u00a0 Almost more of a topic for a college class than a blog about the mortgage world, don\u2019t you think?<\/p>\n

Well, today we\u2019re going to get more into the every day nitty gritty with the Top 7 things (in random order) that I think everyone who is looking to buy or sell in today\u2019s market needs to know:<\/p>\n

1. 6 months ago is ancient history.<\/strong> What your neighbor sold his house for 6 months ago doesn\u2019t matter.\u00a0\u00a0 What the seller was asking for the house 6 months ago doesn\u2019t matter.\u00a0\u00a0 What matters is what the market will support today.<\/p>\n

2. Don\u2019t worry so much about what you paid for your house. <\/strong>Instead, look at the difference between what you can expect to sell your house for and what it\u2019s going to cost you to buy the new one that you want.\u00a0\u00a0 I expect you\u2019ll find that those are much more important numbers (unless you end up without any equity in which case you don\u2019t sell).<\/p>\n

3. Now is not the time for do-it-yourselfers. <\/strong>When the inventory levels are, depending on property type and area, any where from twice as much as is healthy (single family homes near my hometown) to 750% as much inventory as there should be (condos in Florida from what I\u2019ve heard), you need to find a professional to help you navigate the markets and get your house noticed.\u00a0\u00a0 I\u2019m not, frankly, just talking about calling the Realtor who sold the house up the street.\u00a0 I\u2019m talking about calling a high caliber professional who knows what it takes and can really give your house the attention that it needs.\u00a0\u00a0 People like Greg<\/a> and Teri<\/a> and Jeff<\/a> are examples of the types of Realtors who have the knowledge and talent to help you navigate through this market and make wise decisions.<\/p>\n

4. Any interest rate that starts with a 6 is a good number.<\/strong> Check out the attached chart.\u00a0\u00a0 From 1971 to 1998, we did not see any mortgage rates that started with a 6.\u00a0\u00a0 Frankly, we\u2019ve gotten spoiled in Read more<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Okay, yesterday, I dealt with the theoretical and philosphical in our discussion of moral hazard.\u00a0\u00a0 Almost more of a topic for a college class than a blog about the mortgage world, don\u2019t you think? Well, today we\u2019re going to get more into the every day nitty gritty with the Top 7 things (in random order) […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2,26,5],"tags":[],"class_list":{"0":"post-3466","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-general","7":"category-lending","8":"category-real-estate","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":10103,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10103\/7-things-every-home-buyer-should-know-part-1\/","url_meta":{"origin":3466,"position":0},"title":"7 Things Every Home Buyer Should Know – Part 1","author":"Tom Vanderwell","date":"October 19, 2009","format":false,"excerpt":"Here's what I wrote about item #1 on the list last time:6 months ago is ancient history. What your neighbor sold his house for 6 months ago doesn't matter.\u00a0\u00a0 What the seller was asking for the house 6 months ago doesn't matter.\u00a0\u00a0 What matters is what the market will support\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4872,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4872\/should-walmart-sell-real-estate\/","url_meta":{"origin":3466,"position":1},"title":"Should Walmart Sell Real Estate?","author":"Thomas Hall","date":"October 9, 2008","format":false,"excerpt":"It appears that Coldwell Banker may be following the Walmart approach to real estate pricing - recommending that sellers cut their home prices 10% across the board - not locally, but nationwide.\u00a0 I can't help but find the similarity to the McCain approach to cut government spending - simply freeze\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1743,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1743\/why-didnt-your-house-sell-price-preparation-presentation-and-availability\/","url_meta":{"origin":3466,"position":2},"title":"Why didn’t your house sell? Price, preparation, presentation — and availability","author":"Greg Swann","date":"August 4, 2007","format":false,"excerpt":"This is me from my column in the Arizona Republic (permanent link): \u00a0Why didn't your house sell? Price, preparation, presentation -- and availability So your house didn't sell. Now what? Six months ago -- or was it a year ago? -- the world was young and ripe for the picking.\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1781,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1781\/i-went-duck-hunting-with-elmer-fudd-and-came-home-with-a-radically-different-approach-to-real-estate-prospecting\/","url_meta":{"origin":3466,"position":3},"title":"I went duck-hunting with Elmer Fudd and came home with a radically different approach to real estate prospecting","author":"Greg Swann","date":"August 9, 2007","format":false,"excerpt":"About fifteen months ago, we were preparing to list a home for someone we had known for quite a while. The house was a cosmetic flip in an excellent location. We had been consulting with the seller for months to get the repairs and upgrades done the way we wanted\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1533,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1533\/another-happy-customer-for-robson\/","url_meta":{"origin":3466,"position":4},"title":"Another Happy Customer For Robson?","author":"Russell Shaw","date":"June 13, 2007","format":false,"excerpt":"I happened to stumble into finding out about the website, robsonunfair.com by receiving an email. The people who put up the site are more than a little unhappy with their attempts to resolve their grievances with their homebuilder. The link from their site I found most interesting was this one.\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"Kathy_Robson","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2007\/06\/Kathy_Robson.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11530,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11530\/areaatlantahomes-com-touring-a-newly-hatched-broker-market-domination-system\/","url_meta":{"origin":3466,"position":5},"title":"AreaAtlantaHomes.Com – Touring A Newly Hatched Broker Market Domination System","author":"Ryan Hartman","date":"March 10, 2010","format":false,"excerpt":"One of my favorite recent projects has been AreaAtlantaHomes.Com. What's most exciting for me is that the project itself is being cooked up with some ingredients that are really conducive to it evolving into the Broker Market Domination System I talked about here a few months ago: The Marketplace is\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=3466"}],"version-history":[{"count":1,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3466\/revisions"}],"predecessor-version":[{"id":3467,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3466\/revisions\/3467"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=3466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=3466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=3466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}