t used to be that you saved your pennies, worked hard, got married, bought a house, had kids, lived in that same
house for many years, sent your kids off to school, retired and lived out your golden years in the same property (or at the very least the same locale) and then after your passing, your children did what they did with the land/real estate you had probably paid off completely. That’s why a 30-year mortgage was the standard, a home was thought of as a long-term process and the financing reflected that. Not so in this day and age. The real es-
tate market is a challenge for most; even the rules for the professionals have changed in this volatile, ever-changing merry-go-round of homeownership. There is much to learn and so many
ways to get help, so I sought out the advice of a professional: Fredrik Eklund of Bravo’s Million Dollar Listing New York took some time to talk about the ins and outs of the market, his show and the life that brought him to America. We talked about the volatility of the
“Don’t try to comp out your new home with what the neighbor did two weeks ago, take a breath and see it long term.”
48 RAGE monthly | MARCH 2012
market and what he feels some of the biggest pitfalls are for homeowners/ buyers: “Everyone is trying to catch the bottom of the market—no one can—only in the rear-view mirror.” In other words the old adage of “patience being a virtue” still holds true—there is a time and place for everything and for many a decision has to be made about what your home really is. Is it a home, or is it simply an investment? He agreed, “So the biggest pitfall is when buyers (or sellers) don’t see the bigger picture. You are buying a home and you will live there for a few years or many. Don’t try to comp out your new home with what the neighbor did two weeks ago, take a breath and see it long term.” There also seems to be a change in
the way properties are being moved in particular, the listing process has become so much more competitive.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76