The housing market crash in recent years has changed the landscape of the real estate market. In most cities across the country the real estate market favors the buyers. In 2011 it is believed that housing prices will continue to die. The mortgages rates are currently very favorable for borrowers. For instance, a 30-year fixed mortgage has an interest rate of around 4.99 percent. Getting locked in with a low interest rate can save a buyer thousands of dollars in the long run. The housing market crash has caused a lot of people heartache, but smart investors can take advantage of the market. Let’s look at what smart buyers should be doing.
Using the internet to find deals is something every smart buyer in today’s real estate market should be doing. You can search for specific properties in certain areas in a certain price range. You can find properties as soon as they are posted. The internet is a valuable tool for smart investors.
Also, with prices continuing to decline and no end in sight, a buyer shouldn’t think they will be able to buy a home and turn around and sell it for a nice profit in a few years. This was true before the housing market crash, but houses are not set to appreciate like that anymore. A buyer in today’s real estate market should be looking for a house they can get a deal on and that they plan to stay in for at least seven years.