It is a truth universally acknowledged
that a family in possession of a suddenly valuable house
is in want of advice.
The same goes for renters who have been
warily watching home prices zoom into the stratosphere.
They want to know what to do, too.
Whether you already own a house or want
to own one, you're probably wondering:
- whether your real estate market is
in a bubble;
- whether it was in a bubble that has
- whether a bubble is about to start
inflating in your area;
- or why the bubble passed your town
Furthermore, being a practical person,
you're asking yourself (regardless of the strength or
weakness of your neighborhood real-estate market): What's
in it for me? How can I work things to my advantage?
You have come to the right place for the
answers to these deceptively complex questions. The
articles in this real estate guide will advise you what
to do in a changing market, whether you're a seller
or a buyer.
This guide is informative, but not dull.
First comes a look at what
$400,000 will buy in 24 cities. Wait till you compare
the house 400 grand buys in Fort Wayne, Ind., versus
the condo it buys in Miami, Fla.
Dealing with a changing market
Maybe you've lived in your home for a few years and
its value has zoomed. Congratulations. You've made money
on paper. But if you sell, you might not be able to
afford another house in the same market. Has
your home become a prison?
What if you want to sell your home, but sales have
cooled and it's turning into a buyer's market? There
are ways to make
your home stand out from the crowd.
A real pro can make money whether home prices are going
up or down. Here are ways
to profit in a changing real estate environment.
Which direction are interest rates headed this year?
Greg McBride makes
Moves to make
It might be time to rethink
your mortgage. A lot of homeowners will bail out
of their adjustable-rate mortgages over the next two
Whether you're buying or selling a home, Bankrate real-estate
advice columnist Steve McLinden has a list of 10
mistakes to avoid.
A lot of agents will tell you that you shouldn't make
insultingly low offers. Yeah, well, the market is shifting
in favor of buyers in some places, and that means it's
time to brush up on the old negotiating tactic of making
a lowball offer. Or, better, yet, making several
lowball offers, as Joanna Glasner explains.
Don't want to be on the bad side of a lowball offer?
yourself from a housing bubble: Be careful about
how deeply you go into debt, and don't buy your residence
primarily as an investment.
Some homeowners decide to get out while the getting
is good. They cash
out and collect their money before home prices fall.
But what do you do after you sell your house near what
you hope is the top of the market? Go
west -- Midwest, that is.
And we give you guidelines of what
to do, depending whether your area is about to pop,
still inflating, or not in a bubble at all.