Jul

27

Long Island Housing Market: First-Time Home Buyer Information

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So you’re thinking of buying but “holding off”?

Well my friend, it’s time you take a very close look at the opportunity that exists now for buying a home. I know, you’re trying to save more money or you’re not buying because prices are going to continue dropping.

I have covered the number one indicator that should be considered closely when pondering whether to buy or not – the interest rates. Click the link and read up on the trends.

As a first time home buyer, the process of purchasing that first home can seem daunting, confusing and exciting all in one. Amazon.com offers wonderful books that I believe can be great resources to help you along the journey toward homeownership.

The Home Buyer’s Checklist is a wonderful book featuring fantastic questions to ask your inspector, real estate agent, or any other professional throughout the home buying experience.

Now the real estate closing can be very confusing. Talk about sweaty palms! In most cases, lawyers don’t really explain the entire process and the closing itself involves so much paperwork, that if you went through each document line by line, it could take 12 hours. Ouch! Real Estate Closings Explained Simply is a book that features down to earth analysis of what to expect and what to look for during your closing.

Ilyce Glink (she does a lot of writing on the topic of real estate) authored 100 Questions Every First-Time Home Buyer Should Ask. She’s a prolific writer on the subject and she interviewed the top agents throughout the country. Great resource.

When you’re finally ready to really start looking, it’s good to be prepared. Doing a little research can go a long way toward making the decision to finally start as well.

Remember interest rates are low (but they’re going up). If you’re renting, it may be wise to actually meet with a qualified mortgage consultant to discuss the possibilities of buying a home. And remember, you want to buy a home, not be sold a home. There is a difference!

(c) Copyright 2008 www.tommcgiveron.com

By Tom McGiveron

I work 7 days a week and specialize in Buyer Representation. Please feel free to call me at 631.831.9048.


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