Property Values Baltimore
One of the biggest mistakes people make when buying homes is they rely solely on local neighborhood market analysis information to determine the right price to pay for a home.
Understanding the "Big" Picture...Hot Local Market Home Value Analysis is Not Enough!
Before you buy or refinance your home, INSIST on seeing a total market overview of exactly what is going on in the ENTIRE market. Then narrow your analysis to local market information.
Why do I say this? Because you want to know two things
- What is the ENTIRE market doing with values? Are they going up? And by how much?
- What is the specific area doing with market values? How does it compare to what the total market is doing? Are the growth rates the same, lower, or higher than the overall market?
Understanding these parameters will save you thousands of dollars when you make an offer on a home. I frequently perform both of these analyses for my buyers, in an easy to understand format, so you know EXACTLY what you are buying! The general location of the home you are considering could determine how happy you will be living there, and what kind of an investment you are buying. Here is an important tip that will almost always make you money.
- Buy The Midrange Home In The Best Neighborhood You Can Afford
- Why do I say this? Because the better the neighborhood, the better the appreciation for you over time. And if you buy the midrange home, the home will generally appreciate faster and greater than a higher priced home in the same area.
- Plus, you will most certainly spend money updating or decorating your new home, and you do not want to get upside down on your home value after spending money for improvements.
- Andrea Rothman is a REALTOR in the SF East Bay. She has an MBA in Marketing and an MA in Economics. With over 20 years of sales experience, she has become a successful realtor, specializing in first time home buyers and sellers who are looking for less hype and a more down to earth sales approach. Visit her website at http://www.bay-homes.net or contact her at arothmanhomes@aol.com.
What is a HUD Home?.
A single, Multy Family or any other type of residence which has been deeded back to HUD by the mortgage companies who foreclosed on an FHA Insured Mortgage in return for the FHA Insurance benifts.
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