A Buyer’s Market Continues
11 Jan2007
Filed Under Selling · Tagged: Trends · Print This Article
The Number 1 Question I have been asked in the last month as a Certified Residential Specialist is: “Is it the right time to buy Real Estate and why?” Usually the very next question is “Where should I invest?” and that second question is for another blog topic!
To answer this question, for me, a well seasoned Accredited Buyers Representative, is second nature.
Absolutely! In this buyers market, it’s the right time to buy. There are several reasons I am confident in my advice. To begin, there are more homes on the market than buyers. It’s simple supply and demand. What that means to the buyer is that they have a greater opportunity to find the exact home of their dreams with almost zero compromises to make. Versus a market with much less supply and greater buyer competition, creating a Sellers Market and a higher purchase price for the buyer.
In addition, motivated sellers are considering and working with offers of any amount and contingency. That means, that the buyer gets the home they want at the price and terms they want. This is in TODAY’s Buyers Market, so take advantage now!
What terms should buyers want? Well, this is a topic for another blog as well, but just a few include anything from a two week to a four month occupancy, $3000-$12,000 in closing costs, entertainment centers, hot tubs, cars, furniture you name it, it is all available to buyers at this time. As a buyer’s agent skilled at negotiating to the buyer’s advantage, I’ve been able to more than satisfy the needs of my buyers #1 priorities, be they price, occupancy or closing costs.
Will this buyer’s market get even better in the coming months? That I cannot predict. All I can suggest is that today, is better than June of ’06 and rates on loans are still reasonable, so make a move and take advantage before the tide shifts or the rates rise and you miss out on a fantastic opportunity to own the home of your dreams at a great price! Call or email me today with your needs and I will certainly find a home for you, allowing you to take advantage of this great Buyer’s Market.
Not only in Cincinnati are we seeing a tremendous amount of buyers coming out to take advantage of this buyers market, but even in Reno NV buyers are getting creative in their purchases.
See End of Year Rates Summary for more information on Lender Stats as compared with end of year ’05.
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