A common misconception I have discovered working with buyers of homes for sale in Lancaster is, “I can get a deal and a steal in this market!” When asked to further articulate what this means for them, buyers will state, “This is a buyer’s market. I want to offer 80% of the offer price. I want a deal!”
This is a misconception. As I have noted in my market reports for September 2011, homes for sale in Lancaster zip codes recorded sold prices in comparison to list price at:
§ 17543 – 96%
§ 17601 – 97%
§ 17602 – 98%
§ 17603 – 95%
“I know, but my neighbor or father or a guy I work with told me he got a great deal on a property,” you might say. Occasionally someone finds a gem, but that is very rare, even in this market. If getting a deal and a steal means buying a property at 70-80% of list price, it is not likely.
However, with the proper mindset and the realization that affordability rates are the best in 50 years, one will get a great deal even buying at 95% + of list price. A buyer of a home for sale in Lancaster will get a deal by buying during this period of time. Now is the time to act! Interest rates are low.
Contact me to learn more about homes for sale in Lancaster.
Comments (11)Subscribe to CommentsComment