As we all know we are currently in an adjusting Market..... Most if not all areas within the United States had home prices rise as we have never seen before. Part of the high property prices was the fact that getting a mortgage was made terribly easy, no docs, no income declaration etc. etc. and because of so much new construction with not only larger properties but also much higher pricing for those properties made all properties in those areas follow ..... So basically we had in many areas inflated home prices!!!! and a very very busy market!
Thas why I am calling the time we are in at this time and adjusting Market.... prices for existing homes is coming down in some areas more than others, Sellers are still learning that there are not as many ready and willing buyers out there competing for their property and since there are more than enough properties hanging out in the market BUYERS HAVE ALL THE CHOICES, THEY ALSO HAVE ALL THE TIME they do not need to rush themselves, thinking that if they do not make an offer the property is gone tomorrow, and then once they are interested in a property they want to negotiate the price further down, and if the Seller has been on the market for a year and truly needs to sell, they will be able to negotiate a truly good sale price.
SO ALTHOUGH THE HOLIDAY SEASON IS UPON US, AND WINTER IS KNOCKING ON THE DOOR IN MOST AREAS OF THE US, this is truly a good time for Buyers to look for their next new home!!!
Especially if they are first time home buyers, that are financially sound, or move up buyers, which means they already own a property and want to buy a larger home, or more luxury, or larger lot or different area - Although these second buyers will lose some money on the sale price of their property selling now, compared to possibly 2 years + go, but then when they are purchasing the higher priced larger property, they will save a much larger amount there.
In my estimation and there are always exceptions to the rule in certain markets where the prices drop at a higher rate than somewhere else and areas where they do not drop as significantly, but as general statement I think that the market will continue adjusting throughout the winter months into the Summer of 2008.
I cannot see an upswing before another 6 to 12 months....
So if you have been thinking about buying property as an investment, first time home buyer or upgrading start looking and purchase before the upswing.
I service besides serving Sellers, Buyers and Investors who are looking for properties in Chicago, the NorthShore, all Northern and Northwestern Suburbs of Chicago, and all of Northern Illinois, as well as buyers and investors who are looking for properties anywhere in the United States, Canada, Europe and Asia, just contact me by e-mailing me to edith@TheRealEstateExpert.com and in cooperation with my trusted partner agents I will provide you with daily new listings and any and all information needed for the area you are interested in. Expect timely, detail oriented Buyer Services from experienced agents, working always in the very BEST interest of their clients.
Buyers remember this is a good time, start looking and hopefully you will find the right home at the very BEST price possible before the end of 2008 - e-mail me and let me assist you edith@TheRealEstateExpert.com or edithdoesitright@yahoo.com or FineHomesAndLuxuryEstates@yahoo.com
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