Larry Buchanan Realtor®

Archive for the ‘Home Building During Economic Decline’ Category

The media has been broadcasting this headline for years. There is no doubt that we are in a recession. What you have to answer for yourself now is what are you going to do about it? On your own, you can change it but you can adapt to the situation until things blow over.

Now how do we do that? Well the best thing to do is tighten your belt because the credit market is frozen so you won’t be able to get a loan for personal or for business purposes.

With the money you have, it is best to use it wisely by buying only the important items when you go to the grocery. If there are other items you want to go get, you have to sacrifice in order to get it by buying different brand that is more affordable. Since most supermarkets have special offers, give out free vouchers or samples, you should also avail of it.

Do you drive yourself to work? If you do, has it ever occurred to you how much you spend on gas everyday? If you drive an SUV, chances are you spend a lot on gas just to go to and from work. Part of tightening that belt means trading in your SUV or a smaller car. If it is possible, go for a hybrid because you save on gas and get a tax break from the government.

Most people eat out during their lunch break. Instead of buying food, why don’t prepare it at home and then bring it to the office. That way, you don’t have to spend your hard earned dollars for lunch so you can use this elsewhere.

Your employer is aware of the current financial crisis. You can help him or her by suggesting if it will be possible to do some of the work at home. Some companies allow their employees to do this so just have to check if this scenario can work for you. Just be sure that you are as productive at home like you are in the office.

But because you spend more time at home instead of the office, your electricity bill will surely go up. To try and resolve that, the best thing to do will be to replace your lighting fixtures with those that consume less wattage. Since you have a landline and mobile phone, you should change this with a provider that offers better rates than what you are currently paying for. The same goes for other bills that pay monthly.

With all the money you are able to save, you should use it to pay any outstanding debts that you may have with the bank to ensure you have a good credit rating. You can also use this to take up a training course so you or go back to school so you will be able to shift to another career if the current one you are in right now is not working out.

The current recession isn’t going to end by Christmas since it is forecasted to last until next year. For you to survive, you have to tighten your belt. If you don’t know how to do this or want to learn more, it is best to hire a financial adviser who can come up with a plan so you can just follow it.

I wanted to keep it short and informational. Please feel free to leave your comments. The best comments have their feedback posted in a column next month. Thanks for stopping by.

Best Regards,
Larry
Larry@Larry Buchanan Realtor.com

My cell is always near my ear:) 904-910-0203

Purchasing real estate is no laughing matter – whether the economy’s doing well or it’s experiencing recession. It’s a well-known fact that buyers are in a better position to purchase real estate during a recession. However, there are still some risks involved.

So how do you make sure you’re still getting the best real estate deal during the recession times? Here are some tips that you can make use of:

Determining whether you have gotten yourself a good deal in buying real estate, or simply just about anything, depends on your priorities. My years as a Realtor have taught me one thing for certain, all of us have different priorities, that’s a fact.

So if you’d like to make sure you satisfy yourself, get your own expectations in check. Creating a checklist can help you here. Finding a property to buy with a checklist handy can greatly facilitate the process.

I definitely advice about the importance of knowing your priorities and recommend that you create a checklist to guide your decisions. However, flexibility can also get you a long way. Be objective with your judgments and take a hard look at the property you are considering for your purchase.

Think hard and see if you are actually being too choosy to the point of being impractical. Would you like fancy or functional? Is it comfy or uber-elegant? How about trying to meet in the middle? Have you asked for suggestions from family or friends with experience? Do they agree with you?

Although you do not need to wipe your slate clean and accommodate all their opinions, are your expectations realistic enough… and what about your budget? Remember it is recession. Naturally, as a Realtor I can research many of the variables that help you consider your options. There’s no downside to taking advantage of this free service.

Many think that since it is recession, they can just buy and buy and buy properties. Although many property sellers are usually on the lower part of the scale during these times, not all deals are the best ones. You still need to be as careful as ever in purchasing real estate. My listings cover a wide range of choices, and I have access to literally thousands more. Should your schedule open we can set an appointment for a tour that will blow your mind. The market is absolutely perfect for great values at this point.

Many would pursue a short sale trying to grab a good deal. However, before you buy a property with a price that seems too low for the location, check with me about the areas and properties you’ve thought about. I can investigate to make sure you have all the facts. This is important since you should not just make an offer on a pre-foreclosure, short sale property.

Home sellers do know that during a recession, they may not be able to sell their properties for a better price. This means that they would have to wait longer to put their home out on the market. There may be properties for sale, but they get bought quicker, too. It would be helpful if you are prepared enough to make a purchase without dilly-dallying if you really are into it.

Your decision should not be clouded in buying a property. Always shop for the lowest price, which fortunately is more attainable during recession for buyers. However, do not forget that the lowest-priced property is not necessarily the best one.

In summary, there are some advantages to buying a home during recession. However, if you do not really have the budget or are not that well-educated in the real estate industry, do not feel pressured to jump in. There is still time for research and planning to help you make the best choice for the one decision that is a most important investment of your life.

Best Regards,
Larry
Larry Buchanan Realtor
Prudential Network Realty
Call me: 904-910-0203
Email me: Larry@Larry Buchanan Realtor.com

Click here to see my complete listing of homes in the Greater Jacksonville Area

Everyone would like to have a place that they can call their home. If you have saved enough money, you might even consider building your own home or buying instead of renting. But there is one problem, the country is now in a financial crisis. So should you consider building or buying a home now or continue paying rent?

The answer is definitely move away from paying rent. As long as you have money in your possession, today’s real estate market values are in your favor. This means you don’t have to borrow a large sum of money from the bank in order to find a good value in a home. Plus, even though the cost of materials would seem to be low, according to the latest economic reports, they are in fact rising.

So, first things first. You want to spend some time figuring out what kind of home do you want to have and set a certain budget. After getting an idea of where you’d like to be, both in regard to location, and price, you also have to factor in inflation and a little allowance just in case there will be some unexpected situations later on. With all the information you have gathered, you can provide your realtor with an overview of your plans and ideas.

Over time, the value of your house will go up and when you decide to sell it, you will have more money which you can use to buy or build a bigger home.

That may not be the case right now when we are currently facing a financial crisis but it will happen. One thing that could help increase its value even is to install eco-friendly mirrors, low drain, high efficiency appliances and a good security system.

You’ll never build a strong plan for your future financial health if you continue to pay rent because you are just shelling out money and giving this to the landlord rather than earning interest and appreciation.

Remember, it is currently cheaper to buy a home especially with the very low market values currently being observed in this section of the country. Even though it’s not easy to think about it now, the financial crisis will eventually stabilize.

There are a lot of lessons you will learn when you decide to purchase a home. In fact, when you make a home buying decision, you don’t only establish a place for yourself but also help people in the comunnity in many different ways. This is because you have now added to the overall growth of the economy and the neighborhood in a positive way. While also stimulating the local revenue.

So should you buy your home amidst the current economic decline affecting the real estate industry? Yes because you will finally have your dream home just the way you like it…and the homes on the market these days are largely environment friendly or “greener” and often exceed standards that relate to the latest environmental regulations.

Please feel free to leave your comments…

Larry Buchanan Realtor
904-910-0203
email: Larry @ Larry Buchanan Realtor.com

Click here to see my complete listing of homes in the Greater Jacksonville Area