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View Oro Valley Homes for Sale News / Buy and Sell Wisely
Oro Valley Real Estate Cycles
During a slow economic time, fewer people are buying homes in the Oro Valley market. Even so, some homeowners find themselves in a situation where they must sell. Families grow beyond the capacity of the home, employees get relocated, and some may even find themselves unable to make their mortgage payment - perhaps because of a layoff in the family.
During sellers' markets, Oro Valley real estate sells quickly and sellers have a lot of pricing power. As a result, prices rise more rapidly than at other times. During buyers' markets, Oro Valley real estate may sit on the market for a while before selling, so sellers become more flexible and may even drop their prices.
Oro Valley Disclosure Rule
If you are contemplating the purchase of an existing home or any Oro Valley, I strongly recommend that you utilize the services of a trusted home inspector. The final purchase of any home should be based on obtaining a favorable home inspection. Oro Valley is no exception to this rule.
What if the home inspector discovers a problem? That happens and as long as it happens before the sale is final the seller can fix the problem or the buyer who agrees to take the property as is can negotiate the price. Any questions regarding Oro Valley, just give me a call.
Oro Valley. How Much Should You Offer?
Or more precisely, what does the seller owe on the property. If a seller owes $400,000 on the Oro Valley real estate he or she is not likely to welcome an offer for $350,000. If you want to negotiate price, make sure you don’t waste your time negotiating where there is no room to budge.
Even if the loan is high, if the seller is in default there is a possibility of a short sale as many lenders will reduce the loan balance in order to move the property. Most lenders do not want to foreclose and manage homes and the Oro Valley market is no exception.
Building Oro Valley Home Equity
As a Oro Valley homeowner you have the right to pay more towards the principle loan amount each month. Let’s say your monthly payment is $700.00 a month and $100.00 a month is being applied to the principle. If you choose to pay $900.00 instead of $700.00, the $200.00 overage will be applied entirely to the principle. Thus, instead of gaining $1,200.00 a year in Oro Valley home equity, you gain $3,600.00.
The only factor being considered here is Home Equity. In individual cases it may be wiser to invest than to pre-pay your home loan. It also may be wiser to pay off high-interest, non-deductible loans before considering your Oro Valley 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 Oro Valley home appreciation values in your area, please call or E-mail me today.
Green Remodeling Your Oro Valley
Energy conservation. The average Oro Valley today uses systems for heating, ventilation and air conditioning, and most homes are not built as efficiently as they could be, resulting in high energy consumption. The U.S. Department of Energy believes if current buildings were green-improved, they would use $20 billion less in energy per year. Oro Valley green remodeling puts a strong emphasis on making homes as efficient as possible with modifications such as energy-efficient appliances and thermostats that can be programmed at different temperatures for different times of the day.
Oro Valley INVESTMENT
Investing in Oro Valley as a second home or as a rental has many advantages. But before you invest, it is a good idea to acquaint yourself with the actual sales price of similar properties and to get a picture of the Oro Valley market in general. Please contact this office for detailed information on Oro Valley market
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Oro Valley Arizona AZ Homes and Real Estate For Sale
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