5 Things Every Home Buyer Should Know

Mortgage lender and author Tom Vanderwell offers advice on navigating this uncertain housing market

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Posted: April 23, 2009

5. Now (could be) the time: With falling home prices and near-record low mortgage rates, now really is the time to buy—for some, Vanderwell says. First and foremost, would-be buyers need to make sure that they have solid job security before deciding to buy a home. After all, the mortgage bill comes each month but given the eroding labor market, your paycheck might not. "Job security is probably the number-one consideration that people should have [before deciding to buy a home]," Vanderwell says. But buyers that feel comfortable enough about their income prospects, can obtain financing, and plan to stay put for some time are in a great position to take advantage of some very attractive real estate deals.

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6 is a good number

Great article! I appreciate the perspective offered in this article (and the others).
I often see home buyers get so caught up in the minute details that they lose perspective on the bigger picture. No one times the market perfectly and interest rates are historically fabulous whether you end up with 4.875% or 6.5%. If you are getting a good value on your home and you plan to stay put for 5-7 years (in our San Francisco real estate market), you will be in good shape!
Cheers,
Danielle Lazier, San Francisco Realtor
http://sfhotlist.com/blog/

Danielle Lazier of CA @ May 04, 2009 20:42:40 PM

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