The Smart Shopper’s Guide

Regular purchases: food, clothing
Groceries:  Thursday is the best day of the week because supermarkets generally re-stock their produce and dairy sections on Thursdays to prepare for the weekend onslaught of shoppers.  Grocers have to move produce quickly to make room on the shelves, so prices on many foodstuffs will be reduced.  
Buy fruit and vegetables in-season:  they’re cheaper, the food contains fewer preservatives, more nutrients, (and they taste better!)
Clothing: Most department and outlet stores carry everything from wool coats to bikinis year round so shop for winter items during the summer and summer apparel during the winter months.
Occasional purchases: Appliances, electronics
Appliances: Heaters are cheaper in the summer and the prices of air conditioners and fans plummet during the winter.  September and October are good months to buy major household appliances like refrigerators and stoves, since stores want to renew their stocks for the year-end shopping season and will reduce prices to make room for new, pricier models.
Electronics:  Avoid the holiday rush all together and do your shopping in January and February.  The prices on most digital cameras, computers, television sets and audio systems are greatly reduced as stores tend to overstock on these items and will want to make a sale before new products and upgrades are introduced.
Big ticket items: cars, houses
Cars: September and October are the best months to buy a car from the current year since dealers will slash prices just to move their inventory off the lot to make room for new models. The longer a car stays on a lot, the cheaper it will become to purchase. Plan your purchase towards the end of the month and on a week day when there are fewer customers. Dealers will give you a lower price if you drive away with a new car that same day.
A new house:   Prices of homes tend to fall in the winter when fewer people are able or willing to move.  The high season for home purchases is during the spring and early summer, when families plan their move before the school year begins. We are currently in a “buyer’s market” since prices have fallen substantially nationwide and owners are willing to make further reductions and negotiate transaction expenses, like paying for closing costs, in order to seal the deal.
Buying a foreclosed property: Caveat emptor
Be wary of properties on sale through bank auctions and foreclosures with drastically reduced prices, because there are few guarantees. A foreclosure is the legal action allowing a lender to sell a borrower’s property in an attempt to satisfy the debt. According to foreclosure expert, Gene Garrote of Weichert Realtors-Best Beach Real Estate in Miami, in order to buy a home under foreclosure, the buyer must either pay cash or obtain approval from a bank granting the entire amount of the purchase price in funds that are immediately available.
“Homes are sold ‘as is’,” explains Garrote. “Some properties may not be in good condition, requiring extensive repairs, while the bank doesn’t guarantee if the home is equipped with electricity or plumbing, in addition to other essential items.”
Buying a foreclosed property is more complex than buying a home through the retail market and Garrote advises potential buyers to watch out for the following:

-    Research the history of the property through public records.
-    Investigate with a title company to verify there are no pending claims on the property.
-    Hire a home inspector to look over the property for damage.
-    Make sure you have sufficient funds to cover the costs of purchasing the property in addition to the necessary repairs.  
-    Get a licensed realtor to help you with the transaction and verify the realtor’s credentials with professional boards in your state.

If you do your research well and have enough to comfortably pay for the property, (including title insurance, inspector fees, contractor fees and repairs), then a foreclosure can be a viable option for getting a house at below-market prices.
To find out more about foreclosures, go to: www.realtytrac.com, for a complete guide, in addition to extensive listings of properties and real estate agents, or www.realtor.org  for more tips from the National Association of Realtors.




 

Regular purchases: food, clothing
Groceries:  Thursday is the best day of the week because supermarkets generally re-stock their produce and dairy sections on Thursdays to prepare for the weekend onslaught of shoppers.  Grocers have to move produce quickly to make room on the shelves, so prices on many foodstuffs will be reduced.  
Buy fruit and vegetables in-season:  they’re cheaper, the food contains fewer preservatives, more nutrients, (and they taste better!)
Clothing: Most department and outlet stores carry everything from wool coats to bikinis year round so shop for winter items during the summer and summer apparel during the winter months.
Occasional purchases: Appliances, electronics
Appliances: Heaters are cheaper in the summer and the prices of air conditioners and fans plummet during the winter.  September and October are good months to buy major household appliances like refrigerators and stoves, since stores want to renew their stocks for the year-end shopping season and will reduce prices to make room for new, pricier models.
Electronics:  Avoid the holiday rush all together and do your shopping in January and February.  The prices on most digital cameras, computers, television sets and audio systems are greatly reduced as stores tend to overstock on these items and will want to make a sale before new products and upgrades are introduced.
Big ticket items: cars, houses
Cars: September and October are the best months to buy a car from the current year since dealers will slash prices just to move their inventory off the lot to make room for new models. The longer a car stays on a lot, the cheaper it will become to purchase. Plan your purchase towards the end of the month and on a week day when there are fewer customers. Dealers will give you a lower price if you drive away with a new car that same day.
A new house:   Prices of homes tend to fall in the winter when fewer people are able or willing to move.  The high season for home purchases is during the spring and early summer, when families plan their move before the school year begins. We are currently in a “buyer’s market” since prices have fallen substantially nationwide and owners are willing to make further reductions and negotiate transaction expenses, like paying for closing costs, in order to seal the deal.
Buying a foreclosed property: Caveat emptor
Be wary of properties on sale through bank auctions and foreclosures with drastically reduced prices, because there are few guarantees. A foreclosure is the legal action allowing a lender to sell a borrower’s property in an attempt to satisfy the debt. According to foreclosure expert, Gene Garrote of Weichert Realtors-Best Beach Real Estate in Miami, in order to buy a home under foreclosure, the buyer must either pay cash or obtain approval from a bank granting the entire amount of the purchase price in funds that are immediately available.
“Homes are sold ‘as is’,” explains Garrote. “Some properties may not be in good condition, requiring extensive repairs, while the bank doesn’t guarantee if the home is equipped with electricity or plumbing, in addition to other essential items.”
Buying a foreclosed property is more complex than buying a home through the retail market and Garrote advises potential buyers to watch out for the following:

-    Research the history of the property through public records.
-    Investigate with a title company to verify there are no pending claims on the property.
-    Hire a home inspector to look over the property for damage.
-    Make sure you have sufficient funds to cover the costs of purchasing the property in addition to the necessary repairs.  
-    Get a licensed realtor to help you with the transaction and verify the realtor’s credentials with professional boards in your state.

If you do your research well and have enough to comfortably pay for the property, (including title insurance, inspector fees, contractor fees and repairs), then a foreclosure can be a viable option for getting a house at below-market prices.
To find out more about foreclosures, go to: www.realtytrac.com, for a complete guide, in addition to extensive listings of properties and real estate agents, or www.realtor.org  for more tips from the National Association of Realtors.




 

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