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Buying and Selling Lexington Park Homes for SaleLexington Park Dream HomeAs you can see, the lot you choose for your Lexington Park Dream Home could have either a negative or a positive effect on your overall building costs. A large, square lot in the middle of a graded subdivision in Lexington Park is the easiest type of building site to work with. The further your lot deviates from the ideal, the higher your building costs will be. Building on a hillside or on a lot with varying topography and irregular shape is expensive. Lexington Park Fixed or Adjustable?The fixed rate mortgages offer Lexington Park real estate buyers peace of mind with predictable monthly payments. Taxes may go up but the principle and interest will remain fixed throughout the life of the loan. When interest rates were rising rapidly in the late 1970s, lenders came up with ARMs or Adjustable Rate Mortgages. With an ARM, the borrower assumes the risk of rising interest rates. Both have their advantages and disadvantages. Lexington Park. How Much Should You Offer?A good starting premise is that everyone wants to buy a home for thousands of dollars under market and when the time comes, to sell that home for thousands of dollars over market. This is basic human nature. When you are in the position of making an offer on Lexington Park real estate property there are certain facts you need to know. Is it a Buyer’s Market or a Seller’s Market? In a Buyer’s Market conditions favor the buyer. Lexington Park real estate listings are plentiful, home sales are declining or stagnant. In a Seller’s Market the opposite is true. There are more buyers looking for homes than there are homes available. Your low-price offer is far more likely to succeed in a Buyer’s Market than in a Seller’s Market. How do you know what kind of a market exists? Ask your REALTOR, read the newspaper, check online. Lexington Park. How Much Should You Offer?Comparable sales figures is a good guide for homeowners who are pricing their Lexington Park and a good guide for prospective buyers. Make sure you compare homes that are similar to the one your are considering...the same neighborhood, the same size, the same condition. Also, make sure you compare sales within the past six months. Ask your REALTOR for a comparison of the list price and sales price of comparable Lexington Park sales. This information may give you a trend and a guideline for your offer. For example, maybe homes in the area have consistently listed for more than they actually sold for. If that is the case, find out what percentage of reduction occurred. Use this information as a basis for your offer. Buying Lexington Park Real Estate...Will it Pay?The only factor being considered here is Home Equity. In individual cases it may be wiser to invest than to pre-pay your Lexington Park loan. It also may be wiser to pay off high-interest, non-deductible loans before considering your home equity building options. Your financial advisor is the one to consult for these matters. If you would like up-to-the-minute information about home appreciation values in your area, please call or E-mail me today. What Makes Lexington Park Sell?If your only reason for selling your Lexington Park is for the purpose of taking your profits there are a couple ways to approach this. Assuming you have lived in the Lexington Park for two years so you can avoid federal tax consequences, if you sell when prices are high and rent until prices come down before buying a replacement home, you will have maximized your profit. Remember, if you sell when prices are low, you will still make a profit and be able to buy a replacement home while prices are still low. |
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