Tag Archives: buying a home

Things to Remember when buying a Carolina home in the Offseason

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Buy Carolina Real Estate on offseasonNow that summer has passed and we’re in full swing for fall with the holidays fast approaching, we have passed what is traditionally known as the “homebuying season” – where most buyers are on the hunt, generally in summer, when it’s nicest outside and a move can be done without interrupting the school year. Still, there are plenty of homes being listed and cold weather is not stopping buyers from getting in on the hunt. If you are interested in buying during the offseason, you should check out the tips in the new Equifax article, “

Six Things to Remember When Buying a Home in the Offseason.”

For instance, it’s important for buyers to recognize that very few homes that are on market now are long term listings. There were many homes listed in late spring and midsummer, so there is selection as well as great deals out there. In addition, there are fewer buyers to compete with as many are stuck to the on-season mindset, decided they aren’t going to find the property they are looking for until next year, or are unwilling to move their children mid-school year. With a lesser field, sellers are sometimes more eager to negotiate, as they are getting less foot-traffic and trying to sell their home before the holiday season when buyers reach an annual low as they are focused on spending time with friends and family.

There are more great tips in the full article and while you are there, you can explore a wealth of money management tips on budgets,

credit reports and more!

Home Styles Change to Meet Buyers’ Needs

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When buying a home, pay attention to storage space

When buying a home, pay attention to storage space

If you look at homes built just 10 years ago, you can see huge differences from current home styles. Plans and designs have changed to meet the needs of modern buyers, but what are those needs? Are they met in Carolina new homes you might be considering buying? The Equifax Finance Blog shares some key information about home features that you may find interesting in the new article, “

What Do Buyers Want in a Home?”

Armed with data taken from the Census Bureau’s 2011 Characteristics of New Housing report, the new article shares housing trends that can help you recognize some of the best features when

buying a home. For instance, buyers in 2011 were really keen on storage space for their busy lives, from pantries in kitchens to walk-in closets in master bedrooms. However, buyers are turning away from some traditionally thought of luxuries. They cut out big additions like media rooms and full outdoor kitchens. Instead, the money that would be put aside for those types of spaces is being used on premium appliances such as fire pits and high-end grills.

To learn more about real estate trends and

housing market predictions, check in with the Equifax Finance Blog.

Truths about Real Estate Investing

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Investing in Real Estate

Investing in Real Estate

Real estate

investing is big business these days, but just as with any “boom” there are some misconceptions out there about what’s really trending. Steve Cook, real estate and government writer, discredits five popular real estate investing myths in his article “

Buying a Home: Facts and Fictions about Investing” on the Equifax Finance Blog.

Myth 1: Real estate investors are basically flippers who buy and sell properties as fast as they can. Flipping isn’t easy these days, because home prices are still incredibly low in most areas. Investors want to buy low and sell high and flippers are having a hard time doing that. They can buy low, but just can’t sell high.

Myth 2: Real estate investors must be rich because they buy homes with cash. According to a study by the National Association of Realtors, 51% of investors did not pay cash – they either took out mortgages on the homes and lived there while fixing them up or they took out home equity loans or second mortgages on their homes. Of the 49% reportedly paying cash, many of those were actually bought with loans from real estate investment firms. The number of homes truly bought with cash is probably much lower.

Myth 3: By turning homes into rentals, investors change the nature of neighborhoods. Cook does a good job explaining the rental/ownership cycle that many neighborhoods will experience. Right now, demand on rentals is high, and investors can make more money by

buying a home and holding onto them as rental units. But as the market shifts, which it will, those renters will want to buy, and demand for rentals will decrease. As rents decrease, it will no longer be cost effective for investors to keep holding onto those properties – they will make more money by selling them.

Myth 4: Investors are interested only in lower-priced properties. Investors can get the best deals on foreclosures and short sales, which are priced much lower than comparable homes for sale. Smaller, entry level homes are in greater demand than larger, more expensive ones, and cost less to fix up.

Myth 5: Real estate investors are full-time professionals. Real estate investing is filled with newbies, one-timers and those who didn’t intend on getting into it. A recent Move study showed that only 36.5% of investors has experience in one or more property transaction.

Have you considered real estate investing? If so, now may be the time. Visit the Equifax blog for more tips on real estate, as well as retirement, credit, insurance and more.