1.) Take Your Pick. The days when there were more buyers in the market than homes for sale are over for now. Then, options were few and many buyers felt they had to take what they could get whether or not it was the ideal home for them. Now, the reverse is true: There are many homes to choose from. Also buyers are no longer competing with property "flippers" and other investors in the marketplace.
2.) Make An Offer. In the sizzling seller's market, buyers were outbidding one another, sometimes offering amounts thousands of dollars above the list price of the home they wanted. Today, buyers don't have to engage in bidding wars and they're finding sellers more willing to entertain their offer.
3.) A Balanced Market. In the past, many buyers, striving to gain the upper hand in bidding battles, waived contingencies for home inspection, pest, roof or sewer inspections. Sellers were able to sell their home as is" to buyers willing to shoulder the cost of repairs. Today the playing field is more level, buyers are shopping for warranties and asking for inspections. If problems are uncovered, they can reasonably expect sellers to negotiate to get a closed sale.
4.) You Can't Beat The Location. Want to live closer to work? In a better school district? Near the town center? In a larger or smaller home? You may be surprised at the abundance of possibilities out there that are a much better buy these days.
5. Bargains Available. Qualified first-time buyers, down-sizers, second-home buyers, and others can find bargains today if you know where to look. Bargains are available from owner short sales, lender-owned foreclosures, builder close-outs, executive relocation properties, estate sales, even tax and condemnation sales.
6.) Affordable payments. Interest rates on a 30-year fixed-rate mortgage have been hovering in the low 5% range this year. Compare that to the average interest rate 10 years ago on a 30-year fixed, which was 6.94%; 20 years ago, 10.34%; and 30 years ago, 9.64%. From an historical standpoint, today's interest rates look terrific. Combine low rates with low prices to get low payments, and you know why now is a great time to buy.