Over the past two days, I’ve had the pleasure of co-touring with Michael Corbett, best-selling real estate author and host of NBC’s Extra’s Mansions and Millionaires, to spread the word about his new book, Before You Buy, in which I was honored to be a contributor.
As many of you know, I have been in the real estate industry for more than 35 years now, and I still get the same thrill out of helping people achieve home ownership as I did when I began my career as an agent. When Michael asked me to write the foreword and share insight for this book, I was once again reminded of how satisfying it is to help people buy the home of their dreams and ensure they feel protected, especially in these tough times.
With so many choices and such a unique market, it’s more important than ever for buyers to be well-informed. During a media interview yesterday, Michael and I were discussing an interesting paradox: in spite of the vast and helpful resources available (especially online), recent surveys indicate that home buyers are overwhelmed. They’re confused – and some of them are downright afraid about making a mistake in what could be the biggest investment of their lives. They need to work with a trusted real estate agent so they can make a smart decision. Michael’s book Before You Buy breaks down everything buyers need to know, step-by-step, so they’re educated and prepared for every single part of the process.
There’s no question that now is smart time to buy a home for those who are financially prepared, and Michael touches upon exactly how financially-ready one needs to be. For example, he recommends that ideally, buyers should be able to put 20 percent of the home’s value in a down payment. He also recommends that buyers look for homes priced less than the maximum their lender allows them to borrow. For those interested in rental properties, Michael has a helpful section on becoming a landlord and “getting strangers to pay your mortgage.” He delves into foreclosures, and “bargain home buying,” among many other timely topics. Thankfully, with inventory and prices where they are today, there are plenty of fantastic homes on the market for buyers in any price bracket.
Do you have questions about buying a home? Let me know.