Be wise when buying a home and there is no risk!

The biggest fear and thus the road block that is stopping the recovery of the real estate market is this question, "what happens if I buy a home and prices continue to fall?"

This is a wise thought process but not a legitimate concern if a buyer follows the following rules:

1. Work with a "Local Professional Knowledgeable Realtor that has your best interest as the one and only concern"
2. Follow the top rule in buying a home "Location, Location, Location"
3. Find a home that is within your means, affordable and the best potential resale value.
4. Work with a Lender that knows all of the loan programs and learn the options. Choose the Loan that fits your best interest for the future.
5. Lock in your interest rate when the rate is acceptable. Rates fluctuate so rates may be lowered and they may go up so you will need a little luck here.
6. Buying a home at a higher price in a better location makes a lot of sense as the move up home will never be this affordable.
7. Buy a detached home rather than a condo or town home if you are able.
8. Buy a condo or town home rather than waiting to be able to afford the dream home.
9. Buy a home rather than pay some one else's mortgage
10. Keep in mind that even though home prices have dropped as much as 45% or more, Rental Rates are virtually the same as they were in 2005 & 2006 at the peak of the market.

Home Ownership is King!

Your Friend & Realtor,

Tony Lewis * RE/MAX of Valencia * www.TonyLewis.com * tonyglewis@yahoo.com * 661-702-4720

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