The news about the real estate market is not that great. But on the flip side mortgage rates are still conducive for buying. People with marginal credit can no longer obtain 100% financing or loans which were sometimes considered predatory. The good news is there are programs that assist the purchaser with down-payment and closing costs in some instances. I believe we will see more people turning to FHA loans and loan programs that will cause the market to adjust yet again.
This is considered a buyer's market and it is just that. There is more inventory available than 2-3 years ago and most seller's are willing to negotiate with the buyer to sell their homes. In my opinion, it is a good market for long term investors to hold on to properties and build an equity portfolio that can help build wealth. Now is a good time to buy! Seller's have to be patient and understand that there are more homes to choose from and it may take a little longer for their home to sell.
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