Is this a good time to buy? Can I get a deal on a Foreclosure? Should I hold out a little longer? These are common questions I am being asked almost daily. Real Estate seems to be one of the most talked about stories in the news today and unfortunately 90% is all negative with the many foreclosures happening every day. It is all gloom and doom! The media has portrayed a nation wide epidemic with foreclosure rates and tightening mortgage requirements which have frightened prospective buyers. It has given buyers less confidence in their ability to seek financing but on the contrary buyers are given better mortgage options and rates than ever before! Of the many buyers I assisted in 2008 with decent credit, none were turned away due to tightening mortgage requirements or lack of funding.
Well, let me try and lighten things up a little with a lot of positive that is happening in real estate industry today. This is a prime real estate market and the perfect time to buy is NOW because buyers can take advantage of the many choices, foreclosures/short sale opportunities and the great interest rates being offered. Smart investors are presented with a greater buying opportunity because of the hesitancy of some buyers out there. It has been a long time when a buyer could purchase a home under or at assessed value which gives that buyer a great feeling to know that when the market balances itself out again, they will have great equity in that home. Builders are offering larger incentives to sell their homes and their price per square footage is less than it was a few years ago. If you are lucky, you may find a brand new home that has sat for 6 months or more and you are able to negotiate a lower price or some seller financing. It is beneficial to have a Realtor on your side that can represent you through some of the great deals out there and protect you against scam artists.
I feel 2009 is going to be real estate's rebound year, we have a new president residing this month and his focus is to bring back a strong economy. If you are in the market for a new home this year, make that move and do not wait. When the market comes back stronger you will look back and wish you had bought while the economy was low. I am an accredited buyers agent and I would love to help you in finding your new home. You may visit my website www.ForSaleByStory.com or contact me at 804-943-2531.