I was fortunate today to attend a seminar with most of the agents in my Cornerstone Real Estate Professionals office.This program was taught via DVD by Brian Buffini, David Bach, Terry Watson, and Cara Heiden. The title was Meeting The Market Challenge 2008, and was geared to separate the Great REALTORS from the average. Basically there are many opportunities in this market for both Buyers and Sellers. As an Agent I have blogged on this in the past, (check out my blogs). It was great to hear these experts reinterating what I have been saying all year. Ignore the media, Educate your clients, Stay Positive, and IGNORE THE MEDIA !
Actually, with interest rates at attractive levels, and plenty of inventory, the Buyer is in the drivers seat in this market. It was not long ago that inventory levels were low, it was not uncommon to have multiple offers on the same property, and no negotiating on price or perks. Now Buyers can make offers on a home they REALLY want, and ask for perks, as a home warranty, or the stainless steel appliances. Sellers are in a good position as well if they are looking to upgrade. They may have to take a little haircut on the sale of their current home, but they have the opportunity to purchase a larger, nicer home and build equity to make up what they may have lost.
Knowing the market, pricing homes at realistic levels, and educating your clients on lending opportunities, home inspections, true value of homes they are looking at, are just a few things you can polish up on to become the Expert Agent and gain the trust clients are looking for today. There is too much mis-information out there given by the media, and sadly enough, some people that call themselves agents.
Yes there are GREAT deals on homes out there. Do not wait on the market to go lower, it is not timing the market that you will benefit from as a Buyer or Seller, it is time in the market. Yes there is great lending programs out there, and rates are very attractive. Yes NOW is the time to buy while the getting is good. So do yourself a favor. Shut off CNN, CNBC, and all the other lousy sources of media and contact your Professional Licensed REALTOR. They are up on the market, up on education, and ready to serve you for the long run. At least they should be. If you are not getting right answers, you are not with the right agent.
Robert P Bowman is a Licensed Professional REALTOR with Cornerstone Real Estate Professionals and can be reached by e-mail loganrealtor@gmail.com or his website www.retireinlogan.com
Good info. For buyers with mortgage loans, which is most buyers, the interest rates make a huge difference in affordability of homes, and right now interest rates are the lowest they've been in three years.
If somebody bought a $200,000 home right now with 5.25% interest on a thirty year loan, they'd have to get a house for $183,000 to have the same monthly payment when interest rates are at 6.25%.
Real Estate in Logan UT is not going to drop an additional 9%. So if you're looking for a deal, now is the time to buy.