Buyers Market

 
There are over 12,000 homes on the market in the San Fernnado Valley. Unfortuneately because of the lenders giving loans out like candy lenders are going out of business. Alot of people are starting to get foreclosed on because they got into the market with a special teaser rate and now their loan has changed and so has their payments. Also the market has changed and alot of sellers homes are not worth what they paid for it. For the buyer that means short sales are up and so are foreclosures. Short sales are sellers trying to get less for their house than what their loan is. Some banks are willing to negotiate the loan so that the seller can get out but alot of sellers don't realize that they will be taxed on the difference of what they owe and what the buyer pays for their house. The market is only getting worse but how much is hard to tell. The interest rate may go up and it won't matter if you get a better price on the house because the interest rate may go up.