If you are thinking about buying a home then depending on where you live you may want to start keeping a look out for the right home!
Home rates are crazy low right now. The mortgage brokers I usually work with are busy refinancing home owner's as I write this because rates are just that good.
Meanwhile, our local newspaper had an article today stating home sales are down 42% compared to November 07 for an eight year low in the Triangle! Why couldn't this have been in the paper two days ago when my listing client called to tell me her home has not sold quick enough so she wanted to withdraw it?;) Unfortunately many homeowners are not selling their homes quick enough between the economy and our seasonal lows but they will sell and the question is how serious is the seller? It will either take updates, money, or time, their choice no matter how many times they switch their real estate agent or try selling it on their own. The buyers know what they want and how much they can get for their money and we all know there is a lot more competition.
Look I am a realist we are averaging 8 months on the market but we are still selling homes and there are things you can do to your home to sell it quicker but they include either updating or price cutting or waiting for the right buyer to come along. People have to have a place to live, the question is how much do they want to pay for it and is yours the best value out there in their eyes or the right home for them?
So remember a buyer will come sooner or later if you are doing the right things and if you are buying this may be a good time to start the process. I should preface that by saying in the Triangle, NC market that is. I know there are some markets where people are not moving in the area and not many people can get out of their mortgages.
So make sure you do your home work or hire someone who will do it for you!
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