Everyone knows that the housing market has dropped in the last year but most homeowners, real estate developers, agents and investors believe that the real estate market will get better once the new president comes to office in 2009. This belief is based on a survey taken by Harris Interactive.
The surveys findings, state that almost 50% of women and a little over 40% of men believe that the housing market will get better once the new president has taken office. It also found that 80% of current home buyers are a little nervous about the current market. The reasons for this nervousness varies a little but mainly because of high down payments, loss of faith in the economy, lower annual income levels, and higher prices in real estate.
Even so! Even though news seems to be negative in the real estate market, the survey also indicated an up side. Demand for new homes is still healthy, and many current homeowners intend to buy another home sometime in the future, and many of those plan on buying within the next five years.
Another interesting fact the survey came up with, is that almost 80% of home buyers are willing to change their spending habits so they can save money for that higher down payment. They are also willing to cut out certain neighborhood features and amenities, in order to buy a home in today’s market.
Dean Graziosi, a renown real estate investor,  believes these findings are both good news for both the homebuyer and the seller. The idea is to be aware of the current real estate market, but don’t be to scared either to put your house on the market, or to go out and find that great home you have been looking for.  It is still possible to find the real estate deal, and selling your home may take a little longer, but there are buyers out there.

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Some tips for perspective home buyers from Dean Graziosi.

1) Probably the most important tip Dean Graziosi can give perspective home buyers is before you start shopping for a home/investment, make sure you know what’s on your credit report. Most people don’t realize that your credit report can contain an array of errors. And it’s your responsibility to clean them up. You’re entitled to one FREE credit report per year. It’s worth the time to request your credit report and make sure it’s in perfect order.

2) After you’ve checked your credit report, it’s important to become pre-approved so you can shop with no worries. Your pre-approval will give you the amount the bank is willing to loan you and you can shop for a piece of property in your price range.

3) Once you start looking, make sure you’re patient. Finding the home that’s just right for you can take some time. You don’t need to buy a home for the amount you’re approved for especially with today’s real estate market becoming more of a buyer’s market. It’s important to be able to afford the house you buy.

4) Dean Graziosi suggests that you don’t use all of your savings to make that home buy. Seek out a strong mortgage professional who can find the right program for your budget and make sure you don’t use all the money you’ve saved. When you move into your new home, you’ll want some cash in case you need to do repairs or upgrades.

5) If you’re a first time home buyer or haven’t owned a place in several years, you can qualify for programs that are geared for first time home buyers. Once again, make sure your mortgage professional has provided you with all of your buying options including those first time home owner programs.

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You’ve just bought your first investment property and it needs a little tender loving care. Here are some suggestions from Dean Graziosi to help you dress up your property.

1.         Put on Paper. Whether you find an architect or do it yourself, put your ideas for your property on paper. Draw the changes you want and it will help you see how your place will look when the remodeling is finished.

2.         Don’t reinvent the wheel. Seek out others who have done remodeling so you can learn from their mistakes. Check online, watch some of the tv networks that are dedicated to remodeling and even peruse magazines and other publications.

3.         Check your wallet. Though good planning can certainly give you an idea of how much your remodeling will cost, it’s always good to have something extra for those unexpected over-budget emergencies.

4.         Don’t do it alone. You might be handy but it’s best to make sure you’ve hired the right set of players for your remodeling project. Even though your designer might have some people in mind, take the time, to find workers who you are comfortable with at a price you’re willing to pay.

5.         Get it in writing. No matter who you’ve hired to work for you, make sure the terms of what they’re responsibilities are, how much they’re to be paid and how long it will take to do the work are carefully spelled out in writing.

6.         Permits. It’s important before work begins, to arrange for all permits you might need. From your county to your home owners association, don’t start working until you have all the documents you need giving you permission to make the repairs you intend to make.

7.         Have a plan B. The best laid plans of mice and men means that you need to plan for unexpected problems. Whether it’s broken equipment, inclement weather or illness, try to schedule an alternative plan to keep your remodeling project on deadline.

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