Getting tired of the Market? Then buy a short sale! I recently had some first time home buyers who were tired of losing homes in multiple offers in the neighborhoods they liked. These homes were in Queen Anne, Ballard, Wallingford and Greenlake, which are all highly sought after neighborhoods, and the homes were all fixers. This put the homes in the low to mid $300s and each one had at least 3 offers in on them.
My clients are first time home buyers, but they don't necessarily need the first time home buyer credit. What makes a perfect situation for my clients? Short sales. Most first time home buyers have avoided short sale properties because of how long they might possibly take to get a response from the bank. At this time most first time home buyers will not want to wait for a long response, thus setting up a perfect opportunity for my buyers.
So if you aren't in a hurry and you still want to get a great deal and not have to fight over that REO or new listing, take a look at short sale listing again, you might find that perfect deal.