Listening to the news today is enough to scare anyone. Economic indicators spew doom and gloom from every angle. While we have been daring to enjoy the more positive upturn in residential sales in the area, (be it ever so slight!) it is true, things are not anything near where they were a few years back~
AND that is a good thing...
Right now you're thinking, "Okay, this lady is off her rocker!" Am I right?
1. Is it not harder to get a mortgage? Yes, it CAN be, but it doesn't HAVE to be. There is STILL funding out there for 100% financing. It's true. Depending on your location, the home of your dreams could qualify for 100% financing.
FOR EXAMPLE:
735 Chestnut St. Royersford PA (MLS 5846960) is a beautiful single home, under $200,000 and qualifies for 100% financing!
And there's PLENTY more out there that qualify, too! You can view this home or just see what else is out there: http://www.soldbyfaithlarosse.com/atj/user/PropertySearchGetAction.do
2. Also, due to the more challenging market circumstances, many homeowners are willing to consider lease purchases. This is a wonderful way for some first time homebuyers to afford to purchase a home that in another more "frenzied" (shall we say?) real estate market, wouldn't be able to get their foot in the door. It is still necessary to have solid credit in a lease purchase, but it helps with the difficulty that many potential buyers have-no down payment cash.
So, without sounding like that sappy, silver-lining girl... Homes sell in EVERY market. "Down" markets present challenges, yes. But, if you know where to look-they also present MANY, MANY opportunities!
So, frightened first time homebuyers, FEAR NO MORE! Find yourself a friendly, informed real estate professional that you can sit down and chat with and find out what YOUR market holds in the way of opportunities, because I'm telling you~ Opportunities ARE OUT THERE!
Make it a great day!
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