A common misconception I have discovered working with buyers of homes for sale in Lancaster is, “I can get a deal and a steal in this market!” When asked to further articulate what this means for them, buyers will state, “This is a buyer’s market. I want to offer 80% of the offer price. I want a deal!”
This is a misconception. As I have noted in my market reports for September 2011, homes for sale in Lancaster zip codes recorded sold prices in comparison to list price at:
§ 17543 – 96%
§ 17601 – 97%
§ 17602 – 98%
§ 17603 – 95%
“I know, but my neighbor or father or a guy I work with told me he got a great deal on a property,” you might say. Occasionally someone finds a gem, but that is very rare, even in this market. If getting a deal and a steal means buying a property at 70-80% of list price, it is not likely.
However, with the proper mindset and the realization that affordability rates are the best in 50 years, one will get a great deal even buying at 95% + of list price. A buyer of a home for sale in Lancaster will get a deal by buying during this period of time. Now is the time to act! Interest rates are low.
Contact me to learn more about homes for sale in Lancaster.
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