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Your own Home!

by The Barringer Team

UNDERSTANDING THE ADVANTAGES OF HOME OWNERSHIP

Every situation is different, but some of the following items are worth considering when deciding whether to buy or rent: You can buy, and enjoy a great tax write-off, OR you can rent and get no tax write-off.

When you own a home, your housing expense might never go up. When you rent, your living costs can go up each year. When you own your home, you can use, decorate, make physical changes and enjoy your home as you see fit. When you rent, you must get permission to make changes. As a homeowner, you build equity, if your home appreciates in value. As a renter, you build no equity. The money you spent on rent is gone for good.

As a homeowner, you are not at the mercy of your landlord. As a renter, you can be evicted. The house you own will become a home, the place where memories are made. As a renter, your living situation is always temporary. You may already have realized the American Dream - and the true freedom and feeling of accomplishment that goes with it. Or, you may still be seeking the American Dream.

It’s more easily attained than you think. Find out how easy it really can be when you have professional guidance.

Thank You,   The Barringer Team

self appointed expert Cramer on real estate

by The Barringer Team

Cramer the guy on the cnbc came out today and told people on national T.V. DON'T BUY A HOUSE you will lose money.

Watch the video here.......

My Opinion:

This guy is too much he is a self appointed Know it all and now he is a real estate expert. I do agree with him on investing in real estate right now but for someone who is renting I would say how can you afford not to buy? 

You  should buy a home to live in it should not be a  vehicle to Rich's. It should be looked at as a tool like cars, Tools, ect... Everyone needs a house to live in. Things that you need in life. Buyers should stop and think for a moment. 

Advantages of owning a home

1. Tax write off

2. Peace of mind

3. No one can tell you to move

4. Do any improvement you want with out permission from any one.

5. Pride of ownership. 

If the home happens to go up in VALUE Consider that GRAVY. This is what our parents did. Too many people have counted on there home to be a ATM. If you are RENTING take advantage of the buyers market and low rates. I personally know that it is BETTER TO lead a trail, not FOLLOW one.

Also the BEST Decisions I have Made have been the most Scary. No one knows when the bottom is and when you know its going back up it will be too late.  

I have been doing this allot of years and I do not even know when the market hits bottom until its already going back up.

Bill

 

Where will the wheel stop?

by The Barringer Team

WHERE WILL THE WHEEL STOP?

TIMING THE HOUSEING MARKET IS A GAME OF CHANCE

 

The season is here. Or is it? The roads and restaurants may be crowded, but will consumers be in a homebuying mood? Will they give our residential market the jump-start that is so desperately needed?

Sellers are optimistic that they will. They make a strong case by stating factors that support their position, including attractive interest rates, positive economic news, and a smorgasbord of choices for the buyer. Let’s examine each of these factors a little further.

Attractive interest rates. Long-term interest raters are near a 12-month low and by historical standards are still very attractive. Other economic indicators such as unemployment and consumer confidence suggest a bullish economy. But we had these conditions last year. In fact, most of the leading economic indicators have been at record levels for the last several years, yet we find ourselves in a falling residential market. Therefore, this won’t be the battery that starts this market.

Buyers’ smorgasbord. In my 21 years of selling homes, I have never seen such a supply of homes and condominiums for sale. Imagine that our residential market is a bathtub and the water in it represents the homes for sale. If we opened the drain and didn’t put another drop of water in, it would take almost two years to empty. In reality, there is still more water coming in than going out, which suggests an improving buyers’ market. This should be the signal for buyers to start their engines. Unfortunately, I believe too many buyers will miss this great opportunity because they will wait one day too long. Or put another way: They will spin the wheel one too many times. Think of it as playing "Wheel of Fortune". The contestant can solve the puzzle but wants to keep spinning in order to accumulate more money. This makes sense: however, there is risk with each spin because the wheel can stop at Bankrupt. Some will quit spinning as soon as they know the answer; others will get greedy and end up with nothing.

I hope that buyers will recognize how much they have won rather than how much they might be leaving on the table. But if history repeats itself, they will wait too long. I know this because it was just over a year ago when the sellers were spinning the wheel. They had a four to five year run, and they were ecstatic as they watched their home values increase beyond their wildest expectations. Although there were plenty of warning signs that they should sell before it was too late, they didn’t. Buyers should learn from this. The question is, will they?

Real estate values have dropped an average of 20 percent from their peak. The oversupply suggests that sellers are in the mood to consider offers and contingencies that they would have laughed at last year. Buyers are winning; and might I add, it’s about time. But like the sellers, there will be a limit to how much the market will fall. In addition, unlike the seller’s situation, there will not be any warning as to when the market will change. Therefore, buyers should be warned!

We are currently selling property at the same pace we did in 2002 and 2003. However, our population is greater and there are people moving here every day. This suggests a back log of buyers developing. Most are sitting on the fence, waiting for the most opportune time to buy. When this pent-up demand is released, it will immediately shift the market from a strong buyers’ market toward a natural one. Sellers will become less flexible as they sense better days just around the corner. The fence-sitting buyers will not want to completely miss out on the buyers’ market and will want to step in before it’s too late. Good deals will still be there, but the market will have already bottomed and will be heading back up.

Everyone wants to know when this shift will occur. But even if we knew the exact time and day, what good would that do for the majority of the buyers? The fact that nobody knows when the market will reach bottom is a plus for buyers. Fear accompanies the unknown, and if sellers fear that tomorrow will be worse, they will be more flexible. The buyers’ leverage would be eliminated if the sellers had an idea of when better days were coming. So if you happen to know the exact date, be sure to keep it to yourself!

Each day brings a new spin of the wheel. Buyers have tens of thousands of dollars in winnings and were lucky again today. How many more days will they test fate? In the game show, there is only one winner, and there are two losers. Likewise, I believe about a third of the buyers will cash in and the other two thirds will wait a day too long. Which one will you be?

 

 

Bill Barringer

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Century 21 M&M and Associates
912 W 11th Street
Tracy CA 95376
209-833-7777
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