Buy a Home Now?
By Steve Sloboda for The Suburban Times
Why Buy a Home Now? Let me share some reasons that make sense:
First, there is no doubt that the local real estate market has adjusted dramatically. This adjustment is very favorable for Buyers. Earlier this year there was still some denial from Sellers (and the real estate industry) that prices were coming down and inventory was increasing. That mindset led to a continuation of higher asking prices. As sellers have lingered on the market their motivation to sell has increased and they have realized that their asking price points have been too high. Now, prices are coming down and qualified Buyers are able to take advantage.
With many choices on the market and very low interest rates, the time is right to make that step. If you have been watching the news lately you might have been worried about where the residential real estate market was headed. The Government seems to be doing all they can to stimulate the Country's housing situation. The new $7500 tax incentive for first time buyers, the potential mortgage buyout, and the loosening of recent credit restrictions are just a few examples. Soon after the New Year most of these packages will be in full swing. Some already are. This will hopefully reverse declining home values and even out the market.
As this year comes to an end and the new year approaches, Buyers are able to maximize their buying power by carefully studying the market, identifying exactly what they want in terms of neighborhood and home amenities, and by working with a knowledgeable real estate agent that will provide information and negotiate terms strategically on their behalf.
My next submission will be a year end review and a list of some interesting neighborhood statistics. I appreciate the wonderful feedback I received from my first submission. Also, thank you to everyone that congratulated me for my recent addition to Seattle Magazine's list of Five Star - Best in Client Satisfaction Real Estate Agents. That was a big honor and I appreciate your well wishes. I look forward to seeing more of your comments as my contributions to The Suburban Times continue.
Steve Sloboda is Associate Broker at Windermere Real Estate/Paragon Co. in the University Place office. Steve lives in the Oakbrook neighborhood of Lakewood with his wife Amity, and their two young children. For more information or to contact Steve direct please go to www.stevesloboda.com.