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6 Questions To Ask Before Buying A House In This Hot Real Estate Market

Is now the time to buy that perfect house in Palm Springs or wherever you are looking to be living?

The housing market in most of this country has been highly competitive for quite some time. There are way more people looking to buy a new home than those looking to sell. Many buyers and sellers find themselves in situations with multiple offers and homes selling for seemingly unbelievable prices. This has left many would-be homebuyers wondering if now is a good time to be buying a house. Keep reading for six questions to ask yourself before jumping into the real estate market.

Are you willing and able to live in the house for at least five years? Extra credit if you can handle five years here. Having a house that meets your needs and is in a location you like will make owning a home much more palatable when inevitable home repairs come up or if house prices drop.

Under normal circumstances (we are not in a normal housing market at the moment), it will usually take a few years to recoup the cost of buying and selling a home. So, the longer your time frame, the greater your odds of making money if or when you decide to sell your home.
How much house do you really need? More importantly how much house can you afford?
For most people, spending more than 28% of gross income on housing will leave you house poor. There are exceptions. For example, someone buying a duplex or multi-unit property or having a roommate could help make homeownership more affordable. Also, in many scenarios, the self-employed appear much poorer on a mortgage application than in real life.

Your mortgage broker can likely get you a mortgage at 43% of your gross income, but that won’t leave much money to enjoy life or even do things like eating after taxes.

I’m not saying you have to put 20% down but having the ability to do so shows that you are likely in a position to afford to own a home. Side note, in the current market, the larger your down payment, the more competitive your offer will be (assuming many of you are buying a home with multiple offers).

Home maintenance can be costly. Not to mention mortgage payments and property taxes.
I purchased my first home way back in 2007, right before the worst of the financial crisis. My house was likely underwater (worth less than I paid) for a good five years. While it wasn’t fun, I liked where I lived and was able to weather the storm. On a happier side note, my mortgage is less than half what it was when I purchased the home, thanks to lower interest rates.

Honestly, I wasn’t happy to see my house value decline, but there wasn’t much I could do about it at the time. Thankfully, I kept the house, and it is now worth more than double what I originally paid for it.

Depending on your situation, now may be a perfect time. For others, buying now may be a terrible decision. In many real estate markets, the supply of houses for sale is far outstripped by demand. You may be buying at relatively high values, but on the flip side, I would expect mortgage rates to be higher in 5 years than they are today.

While I know being patient isn’t fun, don’t rush out and get in a bidding war for a house you aren’t sure you want. However, if your dream home comes on the market and you can afford it, don’t lose out on it just because you aren’t getting it for a dream price.

Home prices are up, and so is the cost of remodeling your home. The supply chain issues make it harder to get items, and all the best contractors are busy. Just be cautious before you take on a house with a larger project than you can handle or that your budget can bear. The prices you see on HGTV to redo a home are likely far less than you will find in the real world.

As a fiduciary financial planner, I think owning a home is a smart long-term financial move. There are better ways (in my opinion) to build wealth, so not owning a home doesn’t mean you can’t be building wealth over time.


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Real Estate

Transforming the Real Estate World: The Story of Alberto Conesa

In the fast-paced world of real estate, where competition is fierce and opportunities are fleeting, there emerges a figure who has revolutionized the way real estate agents and agencies operate and thrive. Alberto Conesa, a passionate visionary with a clear mission, has transformed the lives of thousands of real estate professionals in Europe, the United States, and Latin America over the past four years. His company, BrandingCenter® – Advanced Real Estate Training, has been the source of inspiration and knowledge behind this revolution.

An Impressive Journey

Alberto Conesa is no stranger to the real estate industry. His commitment and dedication to excellence in this field have led him to work with over 5000 agencies across three continents, creating systems and strategies that not only boost revenue but also generate multiple sources of income. His impact extends far beyond geographical borders, and his story is a source of inspiration for all those looking to excel in this competitive sector.

From Author to Mentor: A Leader in Real Estate Education

Alberto Conesa is the author of two successful books that have become benchmarks in the real estate industry: «Master, Real Estate Agents Who Build a High-Revenue Mind» and «Real Estate Branding, Awaken the Titan.» These works have not only been widely praised but have also provided real estate agents with the tools and knowledge needed to excel in an ever-evolving market.

Beyond writing, Alberto has established himself as the most disruptive trainer in the Spanish-speaking real estate sector.

He offers his services as a mentor and consultant to agencies and real estate agents, sharing his deep knowledge and vast experience to guide them toward success. His approach goes beyond offering theoretical advice; it is based on field-tested strategies, ensuring tangible and sustainable results.

Well-Deserved Recognition

Alberto Conesa achievements speak for themselves and have been widely recognized by the real estate community and beyond. In 2020, he received the prestigious European Award for Technology and Innovation from the European Institute of Technology and Innovation (EITI), a testament to his ongoing quest for innovative solutions in the real estate world.

In 2021, his commitment and business talent were once again rewarded with the EUROPEAN AWARD for Business Talent, an accolade that recognizes outstanding leaders who make a significant contribution to the development of the real estate and business sectors.

A Global Vision for the Future

With an ambitious futuristic vision, Alberto Conesa aspires to extend his influence and knowledge to real estate agencies and agents worldwide. His goal is clear: to elevate the global real estate industry to new heights. His proven strategies are applicable in any context and market, and his passion for transforming lives and businesses is contagious.

To stay updated on Alberto Conesa’s latest insights and tips, you can follow him on social media under the handle @AlbertoConesaOfficial. Furthermore, for more information about his work and access to valuable resources, we invite you to visit his website at

Alberto Conesa is a name that resonates strongly in the real estate industry. His legacy is a testament to how passion, dedication, and knowledge can transform the real estate world and propel it to new heights of success. His story continues to be written, and his impact is only growing.

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Real Estate

Colorado Gov. Polis signs new batch of gun laws

Colorado Gov. Jared Polis (D) signed a new batch of gun legislation into law on Friday, several months after a deadly mass shooting at an LGBTQ nightclub in Colorado Springs.

The laws establish a three-day waiting period to obtain a firearm, raise the minimum age to purchase firearms to 21, make it easier to sue gun manufacturers and expand the state’s red flag law.

“Coloradans deserve to be safe in our communities, in our schools, our grocery stores, nightclubs and everywhere in between,” Polis said at the bill signing, according to The Colorado Sun.

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Five people were killed and 17 were injured in November when a 22-year-old gunman opened fire at Club Q, an LGBTQ nightclub in Colorado Springs.

A proposed assault weapons ban failed to make it to the governor’s desk alongside the other gun control legislation after the House Judiciary Committee voted last week to postpone consideration of the bill indefinitely.

However, legislation to ban the sale and manufacture of so-called “ghost guns,” or unserialized firearms, remains under consideration in the Colorado state Senate.

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Real Estate

2 Cases Filed Against Wrestling Body Chief, 1 Of Them For Harassing Minor

he Delhi Police, which functions under Amit Shah’s Home Ministry, filed the two first information reports (FIRs) hours after the Supreme Court ordered them to do so.

The Delhi Police have filed two cases against Wrestling Federation of India (WFI) chief Brij Bhushan Sharan Singh after the country’s top wrestlers made allegations of sexual harassment against him.
The Delhi Police, which functions under Amit Shah’s Home Ministry, filed the two first information reports (FIRs) hours after the Supreme Court ordered them to do so, amid protests at Delhi’s Jantar Mantar by wrestlers including Bajrang Punia, Sakshi Malik and Vinesh Phogat.

One of the FIRs is over a complaint of sexual harassment by a minor, filed under the stringent Protection of Children from Sexual Offences (POCSO) Act, which gives no scope for bail.

The Delhi Police will pursue the case actively, sources said.

Mr Singh, who is also a BJP MP, welcomed the Supreme Court’s order to file the police case into allegations of sexual harassment against him.

Mr Singh told reporters the wrestlers should have waited for the report of a committee that was tasked to look into the matter before they decided to sit on a protest in Delhi’s Jantar Mantar.

«I am happy with the judiciary’s decision. The Delhi Police will investigate the allegations and I am ready to cooperate with them in every possible way. No one is bigger than the judiciary in this country. The order has come to file an FIR (first information report). The government had also said it had no objection to filing an FIR. I am not larger than the Supreme Court. I welcome the order,» Mr Singh told reporters.

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