House4Sale Long Island NY

Has the Market Changed Enough For Me To Buy A Home?

This is a great time to buy a home! There is a great selection of homes to choose from, sellers are typically willing to negotiate and current market interest rates are close to historic lows. Sellers may be selling because of a divorce, job relocation, or they simply cannot afford their mortgage. Finding these highly motivated sellers gives buyers negotiating leverage they don’t normally have. In a buyer’s market, sellers & builders are willing to offer incentives to entice buyers. Based on media headlines (written to sell newspapers), many buyers are sitting on the sidelines, thinking that prices will go a lot lower. While this may occur in regions where investor speculation ran wild (like Las Vegas,and Miami), statistics show that home prices in Nassau County Long Island NY and Suffolk County Long Island NY have actually been stable for the past 6 months. Especially in a slow economy, the best long term investment may be home ownership.

You know it is almost impossible to time the bottom of any market. Yes home prices may decline a little, but any increase in interest rates may eliminate and increase the true price of the home. Interest rates are expected to rise, and I have seen rates jump as much as 1% in a month’s time. When the market knows rates will be going up, they move up allot and quickly. An increase of .75% in rate on a $350,000 mortgage is equivalent to paying an additional $22,000 for that home.

Contact Mortgage Guru Peter Marino @ 516-982-9653 mailto: petermarino@greenstreetfinancial.com    www.greenstreetfinancial.com

Is A home Inspection a Smart Investment When Purchasing a Home On Long Island?

Why a home inspection is a smart investment here on Long Island, NY

Whether this is your first time buying a home or you have bought and sold many homes, HouseMaster recommends you obtain a professional home inspection to take advantage of these benefits:

• Find out what type of systems and components exist in your new home.
• Determine the condition of the systems and major components of the home.
• Understand how the systems and structural components of your new home function.
• Learn how to maintain your new home to improve the enjoyment and value of your home.

Important tips when arranging a home inspection on Long Island

Make sure the utilities are turned on in vacant homes. Some home inspectors charge an additional fee to come back to the home.

When buying a home, you will want to order a home inspection soon after your purchase offer has been accepted and before contract.

Many of the real estate contracts allow a limited number of days to complete a home inspection (and then to request repairs, or cancel the contract if needed).

Inspect the inspector.

There is no one background that fully trains an individual for all the different conditions that may exist in a home. NYS licensing exists as of 2006, but does not require any Errors and Omissions insurance.  Regardless of their technical background or licensing, all home inspectors should be formally trained/certified to perform a home inspection by an organization such as the National Institute of Building Inspectors (NIBI®)*, thus insuring their knowledge of the home inspection and home buying process.  Choose a home inspector who has earned credentials for competence and professionalism. Make sure the inspector you select has access to on-going technical support and offers you post-inspection advice if needed. To properly evaluate a home a professional inspector must be able to operate the systems, thus requiring the utilities to be on.

Accompany the inspector during the home inspection.

This is your opportunity to gain knowledge of major systems, appliances and fixtures, learn maintenance tips, better understand the items that will be outlined in the computer report, and ask questions of the inspector.

Information Provided By Matt Kaplan From  Housemaster Home Inspection Long Island

Matt Can be reached at 1-800-805-1122 or View More Information at www.longisland.housemaster.com

What Do You think? Was this Information helpful Let me Know Thanks And Happy Selling!