I hear people frequently now a days talking about the fact that they bought their home a few years ago during the housing boom and now they owe more on it than it is worth. This is the message that first time home buyers are hearing. Buyers are afraid that the same thing will happen to them when they buy a house.

For Sale Sign Central Florida Homes for saleDuring the housing bubble when the homes would come on the market and have several offers on it in one day, no one was predicting the kind of backlash this would have on the market. It was the time to buy and that was everyones focus. The mortgage companies laxed their standards, allowing more people to buy a home and many people that should not have been allowed to buy were buying homes that they could not afford.

Now that we have gone through a recession, banks have failed because of the mortgage crisis, people are struggling with their mortgage payments and homeowners are finding it hard to swallow that the beautiful home that they bought a few years ago is now under water on the mortgage, we need to step back and think of the long term. Your home is not just a monetary investment, it is an investment in your family and for the long term. There needs to be a shift in thinking, people need to start thinking of their homes as their homes again and stop focusing on how much they have lost in equity, if this truly is a long term investment the equity will build up again.

If you are a buyer and you are working with a team of professionals, then you will be able to find the home that you want and within your budget. Try to find out why you really want to buy. Is it to build equity, because you want your kids to be growing up in a stable environment, because you are tired of giving your landlord a big rent check every month or some other reason. Once you have figured out the why, then work on the how. When you are ready to start looking for homes, you can sign up for a daily e-mail alert of Homes for Sale with up to date information on the latest Real estate listings fitting your search criteria. 

Central Florida Home BuyersErna Sigurdsson offers a Free Home Buyer Seminar for Central Florida buyers, this is a no-obligation, no-cost educational seminar perfect for buyers looking to buy within a year and even for those looking to buy sometime in the future, but need guidance about how to build your credit towards a home purchase.

 

 

 

Contact Erna and Petur Sigurdsson, Realtors at The Viking Team, Realty at 321-263-5096 for help buying or selling a home in Longwood, Lake Mary, Altamonte Springs, Sanford, Seminole and Orange County and the surrounding areas of Central Florida. To Search For Homes For Sale in Central Florida Click Here.