Real Estate News
How much do I need for a down payment for buying house in Greece ?
The national average for down payments is 11%. But that figure includes first time and repeat buyers. Let’s take a closer look. While the broad down payment average is 11%, first time homebuyers usually only put down 3 to 5% on a home. That’s because several first-time home buyer programs don’t require big down payments. A longtime favorite, the FHA loan, requires 3.5% down. What’s more, some programs allow do..Read More
What kind of credit score do I need to buy a home in Greece ?
Most loan programs require a FICO score of 620 or better. Borrowers with higher credit scores represent less risk to the lender, often resulting in a lower the down payment requirement and better interest rate. Conversely, home shoppers with lower credit scores may need to bring more money to the table (or accept a higher interest rate) to offset the lender’s risk.Read More
How much do I have to pay an agent to help me buy a house?
Home shoppers pay little or no fees to an agent to buy a home. Here’s why: For most home sales, there are two real estate agents involved in the deal: one that represents the seller and another who represents the buyer. Listing brokers represent sellers and charge a fee to represent them and market the property. Marketing may include advertising expenses such as radio spots, print ads, television and internet ads. The pro..Read More
What is a stratified market in Greek Real Estate ?
A stratified market happens where supply and demand characteristics differ by price point, in the same area (typically by city). For example, home sales for properties above $1.5M may be brisk (seller’s market) while homes under $750k may be sluggish (buyer’s market). This scenario comes along every so often in West Coast cities where international investors - looking to park their money in the United States - buy expensive real estat..Read More
What is a buyer’s market in Greek Real Estate Market ?
A buyer’s market is characterized by declining home prices and reduced demand. Several factors may affect long-term and short-term buyer demand, like: Economic disruption - a big employer shuts down operations, laying off their workforce. Interest rates trending higher – the amount of money the people can borrow to buy a home is reduced because the cost of money is higher, thus reducing the total number of potential buyers ..Read More
What is a seller’s market in Greek Real Estate Market ?
In sellers’ markets, increasing demand for homes drives up prices. Here are some of the drivers of demand: Economic factors – the local labor market heats up, bringing an inflow of new residents and pushing up home prices before more inventory can be built. Interest rates trending downward – improves home affordability, creating more buyer interest, particularly for first time home buyers who can affo..Read More
How long does it take to buy a home in Greece ?
From start (searching online) to finish (closing escrow), buying a home takes about 10 to 12 weeks. Once a home is selected an the offer is accepted, the average time to complete the escrow period on a home is 30 to 45 days (under normal market conditions). Though, well-prepared home buyers who pay cash have been known to purchase properties faster than that. Market conditions are a major factor in how fast homes are sold. In hot markets with ..Read More
What the first step of the home buying process in Greece ?
Getting pre-approved for a mortgage is the first step of the home buying process. Getting a pre-approval letter from a lender get the ball rolling in the right direction. Here’s why: First, you need to know how much you can borrow. Knowing how much home you can afford narrows down online home searching to suitable properties, thus no time is wasted considering homes that are not within your budget. (Pre-approvals also help preven..Read More
WHAT IS CHEAP HOUSING AND SHOULD YOU INVEST IN GREECE ?
As you developer into real estate investing, your initial thinking may be to offer luxury properties that will draw big bucks from tenants. And who could blame you? One aspect of real estate investing you may be overlooking, though, is affordable housing. What is affordable housing? Contrary to how it may sound, this is an investment niche that could very well be your ticket to a stronger bottom line in the years ahead. The d..Read More
INVESTING IN CHEAP HOUSING IN GREECE
Investing in affordable housing may be appealing to multifamily investors for several reasons. There is consistent demand for these properties, and they are often viewed as recession-proof. At the same time, they give investors an opportunity to invest in social impact and/or the well-being of their own community. However, the regulations and financing mechanisms involved in investing in affordable housing can be complicated, and often diff..Read More