February is a great month for bargains! Who doesn’t love to find the perfect piece of clothing on a clearance rack at their favorite store? How about shoes marked down 65 to 85% with another 15% off if I buy them now? Count me in!
But sometimes, the clearance items just don’t work. The shoes pinch my toes! OUCH! Or they are too big! Flop, flop, flop. And if they ARE just the right size, the heels are way too high or they are . . . .well . . . downright hideous!
Sometimes those bargain shoes just don’t fit! They don’t fit my style . . . my feet . . . my needs!
These days in real estate we get buyers who are looking for a super bargain, because they have heard all about the huge clearance sale of foreclosed and short-sale homes.
Unfortunately, many buyers are quickly discouraged! The super bargain houses they look at don’t fit their needs. The houses are in the wrong neighborhood. They are too big or too small. They don’t have the updated style the buyers are looking for.
The houses on the clearance rack just don’t fit! They don't fit their lifestyle . . . their family . . . their needs!
So, after looking at all the super deals out there, many buyers go back to the regular sales racks that still offer a discount but maybe not as huge a discount. That is where most of our inventory in Spokane is at these days. The sale prices are low compared to a few years ago. House prices in Spokane have declined a little over 20% since the peak of the market in 2007.
And the best thing about these houses? One of them will probably fit just right!
Still not sold on the idea that paying a little more might be better in the long run? Look in your closet. Are you happier with the perfect article of clothing that was slightly discounted, or even full price, that you enjoy wearing often OR are you more satisfied with the "maybe I can make it work" article of clothing hanging in the back of your closet with the tags still on? Do you look at that unworn item fondly and think, "Wow! that was such a good deal!" Or do you look at it and think, "What in the world was I thinking?"
A few years from now will you be more satisfied that you got a good price on your dream home OR will you be more satisfied that you got a screaming deal on a home that never really makes you happy? Maybe if you are buying a house for an investment a super low price and resale value is the only factor. If, however, you are buying a home where you will hang your hat and live your life, the fit surely does matter!
To make the deal even better, if you buy your well-priced home now, you might even qualify to get low financing at a rate of well under 5% (some even well under 4%) that will last for 30 years! Now THAT combination is what I would call a housing bargain!
A bargain that fits . . .the dream of every shopper!
Need help sorting through the great deals available on homes in the Spokane area?
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