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Timing is everything!

By
Real Estate Agent with Century 21 American Homes
Timing is everything...


As with most opportunities in life, timing is everything!
This is especially true for buyers in Long Island's real estate market. Mortgage interest rates are at 5% and under, the lowest they have been in years.
The $7500 First time buyers tax credit is only available if you close by July 1, 2009. Prices are still low and negotiable. Home inventory levels are still high. Existing foreclosures are being sold! Home owners in danger of foreclosure are being offered amnesty for 90 days, refinancing, and finding solutions to stay in their homes. The truth is finally out, S & P numbers, as reported by channel 12 news on Tuesday
Jan 27 indicate that Nassau & Suffolk counties have fared far better than the nation
as a whole.Nationally, median price declines are at 18% while Nassau is at about 3%
and Suffolk at 6%, when comparing 2007 to 2008. The Long Island real estate market is perpetually changing and adapting in constant forward motion. Buyers who have been waiting in the sidelines for 2 years, are starting to do the math, obtaining mortgages, and taking action. Homeowners who do not have to move are staying put.
What do you think these events are doing to the seemingly, never-ending supply of homes?

What do you think the tax incentives and lower interest rates are doing for demand?
Economics 101: As supply decreases and demand increases, prices go up.
By the time CNN( Constant Negative News, lol!) reports on the new national statistics, 
which have very little to do with Long Island, it will be too late to jump in the market
and get the best deals! It will already be happening.
Waiting until Spring, "to see what happens" is not advisable if you wish to buy a home 
in 2009 under the best possible conditions.
If you would like further information and  ideas please visit www.lihomechoices.com
or email me.

Barbara Klepper
Century 21 American Homes
13 locations on Long Island

info@lihomechoices.com
www.LIHOMECHOICES.com
mobile: 516 476-7671

Show All Comments Sort:
Todd Clark - Retired
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

OK, I love your title for CNN! That alone would get me to hire you if I were looking for a home in your area. But, on a serious note, your post is so true, those who wait will lose out on the great opportunities that are certainly available in your area. I just wish we only had a 3% drop here.

Welcome to Activerain and buyers call Barbara before it is too late!

Todd Clark, Helping Families Home - www.IFoundYourNewHome.com

Feb 04, 2009 04:32 AM
Barbara Klepper
Century 21 American Homes - Babylon, NY

Thank you for your comment. Unfortunately we have a local economist Irwin keller who  is telling the public that home prices are currently at 20% below what they were two years ago and that they should negotiate another 15%. He believes that it what bottom is. How the heck does he know?? He confuses the public further by saying low interest rates will not last for ever.  The 3% and 6 % on previous post was referring to median prices, not average prices. I'll be certain to keep you in mind if I have anyone moving to your state.

Feb 04, 2009 10:24 AM
Michael J. Perry
Fathom Realty - Lancaster, PA
Lancaster, PA Relo Specialist

Barbara, pls. view our RELO message - http://actvra.in/4jHG

Aug 22, 2014 11:41 AM