Black Working Man Lifestyle Magazine BWM Lifestyle Magazine - Premier Issue | Page 33

REAL ESTATE’S MOST IMPORTANT TIPS REAL ESTATE by Tracye Robison Tracye Robinson 248-939-1419 [email protected] While we’re seeing continued strengthening in employment, consumer optimism toward the economy is growing and appears to be contributing to further improvement in overall housing sentiment. The share of respondents who believe the economy is headed in the right direction increased 3 percentage points last month to an all-time survey high of 47 percent, while the share who believes it is headed in the wrong direction decreased to 45 percent, a new survey low. Additionally, the share who believe it would be easy to get a home mortgage today increased to a record-high 54 percent while a survey low 43 percent think it would be difficult to get a mortgage. “Continuing improvements in consumer attitudes in this month’s National Housing Survey lend support to our expectation that 2015 will be a year of the economy dragging housing upward,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “The share of consumers who think the economy is on the right track rose to a record high since the inception of the survey nearly five years ago and for the first time exceeded the share who believe it’s on the wrong track. Consumer confidence seems to be getting a boost from employment growth. This is reflected in their views on the ease of getting a mortgage today, which also reached a survey high in February. We continue to see strength in attitudes about the current home buying and selling environment and consistently high shares of consumers saying they expect to buy a home on their next move. At the same time, we still need to see further growth in consumer optimism toward personal finances and income for more robust improvement in housing market attitudes.” Valuable Tips for Buyers 1. Think long-term and think re-sale 2. Make a list of items that are “must have” and “would like to have” 3. Look at ALL the expenses when you are budgeting for the house 4. Ask for the homeowners association contact before you make a decision 5. Research grants and other sources of funding and financing 6. Be sure to read and understand your contract before you sign it 7. Learn about the neighborhood demographics 8. Look beyond the staging Valuable tips for sellers 9. Prepare for your own purchase and understand the timing 10. Get your home move-in ready 11. When thinking about your home’s potential value, understand your competition 12. Take the emotion out of selling your home 13. Enlist the help of a great real estate agent BLACK WORKING MAN 33