Is now the right time for you to buy?

Patrick Tenore advises potential home buyers on purchasing a home or property in the current market.

Don’t buy now unless...
It is a fact that many homeowners should hold on to their property for the moment. Others should hold off on buying. The question is how do you know when you should buy? With all of the media attention real estate and mortgage has been getting, some people may think it is even crazy' to buy in this market. Patrick Tenore sr, a 33 year seasoned real estate specialist has a standard of telling his clients the truth. Why? “Because we have clients for life,” Tenore said.

The answer is not to buy now unless you can do any of these five things and you can:

1. Get 1995 prices today? Some buyers may be waiting (even too long) for prices to come down. But what if you could get previous year’s prices- today? Some sellers are still over-pricing their homes, but there are also plenty of motivated sellers and banks. The challenge is finding them. Working with Tenore will allow you to buy a home at a lower price ahead of the market trend.
2. Benefit from the winter season. No matter what the market is doing, the winter season is always a great time to buy. People get busy and distracted with the new year leaving sellers with fewer buyers. That means that those who do buy will have even more leverage with those that need to sell, and can often negotiate the best prices.
3. Determine the benefits of buying vs. leasing. If you are looking at a home purchase as a place to live, and not just a replacement for your 401K, then there are always benefits to home ownership. The question is when do the benefits of buying outweigh those of.leasing? There is an answer. Calculations can be made based on your particular situation that will give you a very clear view on whether leasing or buying is the best choice for you. Tenore can walk you through these calculations that will help bring this answer to light, and then help you find your next home to buy, sell, lease, and finance.
4. Capitalize on confusion. Fortunes are made in times of turmoil. Many investors and savvy home buyers are already reaping heavy discounts on property through motivated sellers, foreclosures and short sales. Tenore is a skilled real estate veteran at helping clients on both sides of these transactions. Be the first to know about these opportunities in buying now - and selling! Call for a list of Orange County hot properties, best buys, short sale, and foreclosure properties and homes that are not in the MLS.
5. Lock in or refinance to a low fixed rate mortgage. Historically, falling interest rates drive home prices higher. The opposite can also be true. The great news is that we find ourselves at an interesting stage in the market — interest rates are still extremely low and there are many opportunities to buy homes below market value. Now is a great time to take advantage of this rare occurrence and lock in a low fixed rate. Tenore can also help you arrange your financing needs for a purchase or refinance. Remember, opportunities are never lost, they are just given to other people.

For more information, call Patrick Tenore Sr, president of the Tenore Real Estate Group and Nationwide USA at 949.856.9705.