Facebook Twitter Instagram
    • Personalities/Staff
    • Jobs
    • Calendar
    • Keeping it Local
    • Contest Rules
    • Contact Us
    • Login
    RSS Facebook Twitter
    News Radio KMAN
    ESB's Managing Your Money
    • Local/State News
      • Manhattan
      • Riley County
      • Wamego
      • Pottawatomie County
      • Fort Riley
      • Geary County
      • State News
      • RCPD Reports
    • Weather
    • Sports
      • High School Sports
        • Scores
      • Scoreboard Saturday
      • K-State Sports
      • Student-Athlete of the Week
    • On Demand
      • In Focus
      • Who’s On In Focus
      • The Game
      • Managing Your Money by ESB Financial
      • Wildcat Insider
    • Obituaries
    • Message Us
      • Birthday/Anniversary
    Listen
    News Radio KMAN
    You are at:Home»Local News»Things to remember when buying a house

    Things to remember when buying a house

    0
    By KMAN Staff on August 1, 2011 Local News


    Today’s troubled housing market, hit by foreclosures, slow sales and declining values, presents opportunities and challenges for home buyers, according to Eric Higgins, a professor of finance at Kansas State University.

    “When prices drop substantially, it creates the opportunity to buy,” Higgins said. “If you’re waiting for prices to hit absolute rock bottom, that may not occur for some time.”

    Higgins is co-author of a recent study that found the best way to help the housing market recover is to stop delaying foreclosures. Regardless of whether you’re buying a home in a market that’s struggling or that’s thriving, Higgins recommends keeping the following in mind:

    *Be careful when buying a foreclosed property. The property has probably been unoccupied for some time, which means it could have gone for awhile without some attention and may have issues.

    *Check out the neighborhood where you want to buy a home.

    *Determine the completeness of the development.

    *Check into properties that are being held by a bank or mortgage lender, as they may be sold for less than the value of the mortgage.

    *Lastly only buy as much house as you can afford.

    “It’s much harder to buy more home than you can really afford today — and you shouldn’t do it,” Higgins said.

    Share this:

    • Facebook
    • Twitter
    Real Estate
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    KMAN Staff
    • Website
    • Facebook
    • Twitter

    Related Posts

    Riley County Commission holds evening meeting in Riley

    Gov. Kelly calls for legislation change at Kansas Governor’s Public Health Conference

    All In For K-State event raises more than $1 million to support financial well-being initiative

    Leave A Reply Cancel Reply

    Listen Live Here
    Listen Live - Mobile

    Categories

    EEO Report

    FCC Public File

    FCC Applications


    Follow @1350kman on Twitter · Manhattan Broadcasting Company is an equal opportunity employer.
    Manhattan Broadcasting does not discriminate in sale of advertising on the basis of race, gender, or ethnicity, and will not accept advertising which does so discriminate. © 2022 Manhattan Broadcasting Company.

    Type above and press Enter to search. Press Esc to cancel.