Home Buyers & Home Sellers Must Read Books-Six Great Ones

Home Buyers & Home Sellers Must Read Books-Six Great Ones

These days in the complex world of buying or selling a home and with the winter weather here in Oakland County, Michigan it’s a great time to find some great books to read, especially if your thinking of buying or selling a home in the near future. There are many differences in buying a home as appose to selling one and being fully prepared when the time is right can be the difference between thousands of dollars out of your pocket. Let’s face it, buying a home or selling a home is one of the most important financial decisions you can make in your life, so a little homework before hand is a very smart move.

As your Realtor it is my job to guide you through the home buying and home selling process and help the transaction as seamless as possible, but if I can share important information beforehand it is my pleasure to do so. The six books that I would recommend are listed below and they also are in audio form in case your like me and like to listen in my car (my second home). These books are such a value-add that I felt compelled to share them with you. Also, I’m always here for any advice or help that I can provide to you personally. Hope you enjoy!

 

For Home Buyers

1. Homebuying For Dummies, Eric Tyson and Ray Brown

Homebuying For Dummies, now in its 4th edition, is the quintessential guide for any newbie homeowner getting ready to make the purchase of a lifetime. Just like the rest of the contributions to the massively popular For Dummies series, this book gives step-by-step instructions on how to buy your first property. The volume covers everything from finding the right property, understanding your lending options and the tax implications of purchasing a home.

2. Mortgages For Dummies, Eric Tyson and Ray Brown

Sticking with the For Dummies series, first-time homebuyers who don’t fully understand what it means to purchase a house with a loan should definitely check out Mortgages For Dummies. Not only does this volume break down the basics of mortgages, like what they are, the difference between fixed rate and variable rate mortgages and how to secure your loan, it also breaks down how to determine how much house you can afford, how to get your finances in check before you apply and even tips for raising your credit score to clinch a lower interest rate.

3. 100 Questions Every First-Time Home buyer Should Ask, Ilyce R. Glink

Written in easy to understand question and answer format, this first-time home buyer guide from real estate expert Glick digs deep into virtually any question a first-time home buyer might have in today’s market.
In 100 Questions Every First-Time Home buyer Should Ask, Glick leveraged expertise from top real estate brokers around the world to create what is essentially the encyclopedia for buying your first home. Questions run the gamut from how to have your potential purchase tested for harmful substances like mold or radon to how the purchasing process has evolved in recent years – and how you can make those changes work for you.

For Home Sellers

4. House Selling For Dummies, Eric Tyson and Ray Brown

Tyson and Brown created another essential how-to guide, this time for sellers, with House Selling For Dummies. This edition will give you all the information you need to make the most out of the home selling process and get the maximum profit for your home. Topics include how to best prepare your home to put on the market, the best time of year to list your home, how to find the best real estate agent and negotiating tips to ensure you get the best offer on your property.

5. How To Sell A House Fast in a Slow Real Estate Market: A 30-Day Plan For Motivated Sellers, William Bronchick and Ray Cooper

Whether you’ve already purchased a new home or you’re in the red on your mortgage, there are going to be times you need to sell sooner rather than later. For those sellers who are looking to unload their property fast, How To Sell A House Fast in a Slow Real Estate Market: A 30-Day Plan For Motivated Sellers is a great guide for securing a quick selling process, even if the market in your area runs slow. This guide is full of practical advice on how to leverage marketing techniques, advertising and improvements to the property to get your house sold quickly and (relatively) easily.

6. The Complete Idiot’s Guide To Staging Your Home To Sell, Julie Dana

One of the major components of selling your home for a prime price is showcasing your property in its best light. Staging your home in a way that makes it most appealing to potential buyers can mean the difference between getting an offer you’re excited about or consistently falling short on your asking price. The Complete Idiot’s Guide To Staging Your Home To Sell gives you step-by-step instructions on how to effectively stage each room in your home for maximum impact. This book is especially helpful for the design-challenged and will have even the most novice interior designer staging rooms like a pro.
If you’re gearing up to buy or sell your home , grab a cup of tea, get comfortable and read these books. Your wallet – and sanity – will thank you.

New Homes On The Way In Oakland County

New Homes On The Way In Oakland County

It is clear in Oakland County, Michigan inventory is scarce and the need for new homes could be the cure. We have seen the inventory of homes for sale in Oakland County, Michigan drop 28.7 percent from 5,575 on the market to 3,976 in the last few months. The numbers show that inventories are fading, but prices are increasing with many areas are now above their pre “Great Recession” (2007) prices, but the issue still is inventory for many home buyers and with home sellers wondering if they will find something to purchase.

New Homes Underway

On the brighter side, there is a 8 percent of an increase in new home building permits, which means more new homes will be constructed and a great example is the new homes being constructed in the Rathmor Park subdivision, 51500 Ten Mile Road, Lyon Township, Mich. with the going price in the 500k area which is a bit out of the average home buyers budgets. In The Walled Lake area we seeing more affordable new homes being built in the Glengary Hills area that range from 349k to 450k which is more affordable to many new home buyers. These new construction projects are going to help in the long run but will take time to ease the tight market we are experiencing in Oakland County, Michigan as other projects for building new homes get underway.

Home Builders Will Take Advantage

Generally speaking, there are fewer homes available to buy right now than is considered normal. And though conditions will differ from one market to the next, when inventory is an issue, it leads to competition and higher prices. That’s because, there are too many buyers vying for the number of homes currently available. But when there are more buyers than there are homes for sale, conditions are also ripe for builders. And typically, they’ll take notice and build more homes to accommodate those buyers.

Based on recent readings of the National Association of Home Builders’ Housing Market Index – which measures builders’ confidence in the market for new homes – that may be where the market is right now. For example, builders confidence has been at or above 70 for four consecutive months, on a scale where any number above 50 indicates more builders see conditions as good than poor. And most of their optimism is based on market conditions and their expectations for future sales, rather than current traffic. Which means, builders see an opportunity in this year’s market and may begin ramping up construction of new homes. If that happens, it’ll provide more choices for buyers and help slow spiking price increases. More here.

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