Trulia Real Estate blog/ Tara-Nicholle Nelson, San Francisco, 8/8/12. "5 mistakes buyers make in a hot market.", market conditions, home buying, credit score. Part 1.
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| My home is my castle |
"While home prices are nowhere near their peak of 6 or 7 years ago, the nationwide data is clear: the housing market this summer has been hotter than at any time since the recession:
The Census Bureau just revealed that new home starts rose 6.9% in June to their highest level in four years - up 23.6% from a year earlier.
In April, home prices rose for the first time in seven months, according to the S&P/Case-Shiller home price index.
The number of home sales pending rose 9.5 percent year-over-year from June 2011 to June 2012, as reported by the National Association of Realtors.
In April, home prices rose for the first time in seven months, according to the S&P/Case-Shiller home price index.
The number of home sales pending rose 9.5 percent year-over-year from June 2011 to June 2012, as reported by the National Association of Realtors.
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| So is mine |
Given this rapid turn of the market, what’s a buyer to do? Maybe take a new approach to prepping for the hot market house hunt. To that effect, I submit that savvy buyers will find more pitfall-preventing power in learning what NOT to do. Inspired by the last time we had a market heated up by short times on market, low inventory and multiple offers, here are five hot market mistakes home buyers should avoid making:"
The list of what NOT to do includes, 1) act out of desperation, 2)
hesitate, 3) ignore the market trend, 4) financial fogginess, 5)
overpay, or overspend. Read Article for detail.
Reference - Trulia Real Estate blog/about, "...unique insights into housing data or tips for real estate pros.."
Submitted by Jim Alex
Posted by Kathy Meeh
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