2009…Prices in freefall. Volatility, mortgage for mortgage, transaction for transaction. The new President establishes an $8000 incentive plan. First Time buyers are choosing from about 15 different grant and second mortgage “programs” and “assistance” gimmicks. Far too many potential buyers sit on the fence and miss an opportunity to own property in the best purchase market in decades. Far too many sellers miss the market by fiercely believing the “not on my street” fallacy… Thinking ahead to 2010, here are five simple rules that are on the top of my mind for anyone who plans to engage in a real estate transaction: 1. Get Your Money Right – cash is king and lenders will require buyers to have a formidable basis for loan approval – buyers with the most cash at stake will dominate in most multiple offer situations, even if they offer less than a leveraged, mortgage heavy buyer 2. Due Diligence Goes Both Ways  - buyers must show up with a duly … [Read more...]