Now is the Time to BUY!! Why are buyers waiting?

By
Real Estate Agent with Sandstone Real Estate Group

With Interest Rates Low, and good deals on the Market. Why are the buyers waiting?

After talking with some of my potential clients about purchasing their first home, i have heard some startling objectins to why they are hesitant to purchase a home?

 Buyer: The media says we are still in a slight recession and i just dont think purchasing a house is right for us at this time.

YourExitRealtor: Now is the perfect time to purchase your first home, Interest rates are at a Historical LOW! I have had clients lock in at 4.00% we haven't seen rates that low in decades.... Housing prices... sellers need to move there houses, so they are dropping the prices to get them sold.... i saw a house sell for $16K under market value yesterday and it wasn't a foreclosure or short sale...

Summary... Rates are good, Housing prices are Great! BUY NOW...

 

Buyer: I don't have the money saved for a down payment....

YourExitRealtor:  Well lucky for you I have some great lenders that i work with, and there are a few programs out there that if you qualify for you could receive Down Payment Assitance, or you could look at Rural Development qualified houses, which offer 100% Financiing, Yes that is correct i said 100% Financing. So see even if you don't have a lot saved to purchase a house, we might find the right program to help you take advantage of some really great deals on the market now...

Buyer: Are Foreclosures and Short sales a good deal?

YourExitRealtor: Foreclosures are 50/50. They offer you some really really good deals. Some Foreclosures are Move in Ready, and some will require you put a little elbow grease into the house. Foreclosures some time move a little bit quicker than short sales, with Foreclosures you are Negotiating with the Bank Directly, Short sales you have to Negotiate with the Seller and the Bank which could take up to 120 days just to get an accepted offer.

In my opinion i would stick with Foreclosures, but that is not to say you can't find an incredible deal on a short sale.

Posted by

 

Buying and Selling a home is a huge Financial decision, Blake Roussel with Sandstone Real Estate Group is your Real Estate Professional for Conway, Little Rock, Maumelle, Benton, Bryant, Jacksonville, Cabot, and Searcy, Arkansas. My goal is to walk you through each step of the buying or selling of your home, so that we have a smooth transaction.  Call Us today 501-230-6082. Customer Satisfaction is our #1 GOAL, we are here to serve you throughout this process. Check out what my past clients have said about my Past Clients have said about my services. We look forward to hearing from you.

“Then Difference between FOR SALE and SOLD”

Comments (2)

Jeff Lundquist
United Country Premier Real Estate - Annandale, MN
Jeff Lundquist

I agree, the rates and deals are too good not to be taking advantage of. The right short sale situation can be a very good deal. Ask questions about pre-negotiation, etc. My aprtner and I have worked several fairly quick turnaround short sales(less tha 45 days). Some, however may take much longer. My rule of thumb on short sales is, if you like it, make an offer, but do not stop looking.

Jan 14, 2011 03:28 AM
Dawn & Charlie Tetro
PalmerHouse Properties & Associates - Johns Creek, GA
Real Service Real Results

I do sense that reluctance is due to economic uncertainty for those buyers looking for the first home. For others, they may wish to buy but will not qualify for many reasons.  The self-employed are hard hit to qualify and this has not been addressed at all.  I know many self-employed that would love to buy, but can only do a non existant no-doc.  They have the income and are very responsible, but will not qualify.  And then there are sellers that wish to buy once they sell their home and with 1 in 10 selling is it any wonder why the market is so depressed.

Jan 14, 2011 03:28 AM