I know one of the things that keeps buyers from buying now is fear....fear of becoming unemployed, and that is definitely a valid fear. No one wants to take on a new mortgage they are not sure they will be able to keep paying.
Another fear I have heard many people express is fear of "taking advantage of another persons misfortune". I have found that many compassionate buyers and I can understand how they can think this as we are looking at so many foreclosures and short sales on the market today. Being a very compassionate person myself, I have heard so many of these sad stories and I try to help as many sellers as I can though this incredibly tough situation. It is not easy to hear of people losing their homes, every situation is so very sad. But what the buyers must realize is, the sellers that are trying to do a short sale WANT you to buy their home. It is much better for them than to go through a devastating (emotionally and financially) foreclosure. This is a much more gentle and kind solution for a seller in this situation.
In the case of a foreclosure, where the bank has already taken back the property, they also WANT the property sold. We have so many distressed properties on the market now, it really makes tough competition for the seller who are not in a distressed situation. REALLY Tough Competition! The distressed sales really put pressure on the other sellers to lower prices and stay competitive. The sooner we can move these properties off the market (by purchasing them!), the sooner the housing market can recover and the sooner prices can stabilize, which helps every homeowner out there.
So, please don't let fear keep you from buying in this market. You are not only helping yourself by getting a fantastic deal and historically low interest rate on your mortgage loan, but helping all of us homeowners, by helping the real estate market and prices stabilize.
It is time to come out and buy now.....fabulous deals everywhere you look, and rates are historically low. We usually do not have both of those things happening at the same time in the real estate market!
And, Yes, people can still get mortgages!
It is an EXCELLENT TIME TO BUY NOW, especially for first time buyers, second home buyers, investors and move up buyers.
REAL ESTATE IN ILLINOIS IS ON SALE! :-)
I hope you find this information useful. I am only a phone call or email away of you need real estate help:-)
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I can be reached at my direct number at the office: 847.516.6760. I look forward to hearing from you!