As a buyer, you now have plenty of choice, as well as the upper hand in negotiations. You also still have the benefit of low interest rates.
You can't be sure that a house you buy today won't lose more value before prices recover, but if you can pay well below what sellers were getting last year, you've already built in a comfortable cushion against price drops.
Free yourself to act fast. Contact a lender and obtain a pre-approval for your home purchase. This will provide you with a price range for your home purchase and of equal importance when you identify a home you will be in a position to make the strongest offer possible. If you need suggestions on lenders please give me a call or simply respond to this email and I will be pleased to share some contact information for lenders that have been most helpful to my clients.
Know how strong you are. The longer a house has been for sale, the more powerful your position as a bidder. "Time on market is a good indication that someone is likely to be really hungry," Please feel free to contact me for the full details of a home's listing history, complete with time on market and any asking-price changes.
It would my pleasure to be your Buyers Agent and I will work exclusively on your behalf. Please contact me for a copy of my Buyers Passport which you can take with you when you attend open houses and advise the agents you have hired me as your Buyers Agent. New home communities are a bit less receptive. It is important that I am in attendance at your first visit and register as your agent.
Wield your power. If you see a house you like, chances are you can find another one that is similar. Exploit that advantage. Make demands you never would have dared ask for in crazier times, such as requiring the seller to make repairs or the builder to throw in free upgrades. Don't be afraid to start with an offer that's 15 percent below asking price.
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