The word on the street (and my personal experiences in the last couple weeks) has it that the lower price ranges are starting to see some activity. We all know when the market does come back that it will be the lower priced homes that will start flying off the listing self first!
I wrote an offer a couple weeks ago and the buyers wrote up a full price offer on an REO and didn't get it!! Wow haven't heard that lately...the competition for the under $250k range will certainly heat up as spring approaches. If you are a buyer or have considered waiting take note....when thing change...and they will it will be TOO late for that smokin deal! When the paper starts printing that things are a changin the sellers will be adjusting their prices overnight and holding firm.
Right now is the absolute best time to look and purchase as it is still winter and their are not as many buyers out there to compete against. When spring time comes around and the temps heat up a little and the buyers start hitting the open houses again would be a good time to already have your place!
No one can out guess the market....not even the stock market! So with that in mind if you are considering purchasing a home then now is as good a time as any. With interest extremely reasonable and maybe even going down a touch in the next 1-3 months it may well be that time that you have been waiting for!
Regards,
Rick Goates
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