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The View | Featured | 2011: The Year To Buy? - Los Angeles-Platinum Triangle-Beverly Hills Real Estate-90210-Bel Air-Holmby Hills-Sunset Strip-Hollywood Hills-Luxury Estates-Mansions-Celebrity Homes-Homes For Sale-Listings-Realtor-Real Estate – http://w

2011: The Year To Buy?

March 01, 2011 | Posted at 5:25 AM

2011: The year to buy? Real estate expert and author (Before You Buy!) Michael Corbett shared some tips for those looking to purchase a home this year:

Reasons Why 2011 Is a Year To Buy:

  • Huge Inventory: In most markets, home inventory has increased, giving buyers more choice. With foreclosures and short sales all over the place, many markets have hit bottom - meaning properties are at a ripe price.
  • Today's Market is Safer/Saner/Smarter: After the market crashed - a result of volatile and foolish choices - a newer, more stable real estate market is emerging. There are many new consumer-protecting safeguards in place, and lenders are adhering to much needed regulations for offering mortgages.

 

Tips to Buy Safe, Sane and Smart

  • Slash 20% The Mortgage Offered: Whatver the bank offers you as a mortgage - subtract 20% off of that number and use THAT as your mortgage price. That way you are automatically safeguarding yourself and your financial security, because you are buying a house that's affordable. The logic being - the bank calculates your mortgage amount by looking at your entire financial portfolio and what you can afford. By slicing that mortgage price by 20%, you are giving yourself a safety net for what you can afford in terms of monthly payments.

 

Top 10 Affordable Cities

As determined by Forbes magazine, these ten cities is determined by cost of living, employment opportunities and housing costs. Your take home pay will go further here:

  1. Omaha, NE
  2. Buffalo, NY
  3. Detroit, MI
  4. Indianapolis, IN
  5. Cincinatti, OH
  6. Pittsburgh, PA
  7. Minneapolis - St, Paul, MN
  8. Cleveland, OH
  9. Oklahoma City, OK
  10. Houston, TX

via theview.abc.go.com

The View | Featured | 2011: The Year To Buy? - Los Angeles-Platinum Triangle-Beverly Hills Real Estate-90210-Bel Air-Holmby Hills-Sunset Strip-Hollywood Hills-Luxury Estates-Mansions-Celebrity Homes-Homes For Sale-Listings-Realtor-Real Estate – http://www.ChristopheChoo.com

Posted on: Beverly Hills Real Estate-Beverly Hills Homes For Sale

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