It's a buyer's market!

By
Mortgage and Lending with United Residental Mortgage
How is today's market good for the consumer? On Wednesday the Federal Reserve held the interest rate at 5.25%. This is the seventh straight time that the Fed chairman and policy-makers held steady to the rate, in a bid to fight inflation. This is good for those of you who want to purchase a home and get into a low interest rate. It is also great for those of you who still have not refinanced and have a high interest rate. The prices of homes are dropping and the inventory is enormous. Now is the time to buy the home you want at a price that can be negotiated. IT IS A BUYER'S MARKET!

Comments (3)

Alice Maraj
RE/MAX of North Orange County - Fullerton, CA
Yes you are right that the rates are still at an all time low but is it realy a buyers market?
May 11, 2007 09:49 AM
Roxana Mendoza
United Residental Mortgage - Apple Valley, CA
Absolutely, the reason being that here in the High Desert there is such a large amount of homes for sale. Another factor is the fact that home values are decreasing. This allows a buyer to negotiate a better price. For example, there are so many 3bedroom\2bath homes for sale that a buyer can say, "well, for the same price that you are selling your 1983 home I can buy a brand new home with the same square footage" How will the seller respond when so many buyers are saying similar things? He will lower his price to compete in the market. The two factors just explained plus low interest rates reveal that it is indeed a buyer's market.
May 11, 2007 11:29 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

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