10 Reasons to Buy NOW!
1- Selection: There are plenty of homes to choose from right now. With high inventories you
can get the lot you want, the location you want, somewhere to park your boat or RV, the school district you want, on and on.
2- No Bidding Wars: In 2005 many homes were selling for more than list price, and when you did find
that perfect home it was often "under contract" before you could even make an offer.
3- You Can Make An Offer: It is not always in the price either. Now you can find closing costs
paid, decorative allowances, and sellers will consider selling their home below list price.
4- Patience is Tolerated: Before you had to hurry your choice because homes were selling so fast,
and sellers would not wait for closing either. They would not wait for you to sell your home, or find attractive financing
or for the kids to get out of school. It was "close in 2-4 weeks or we will find another buyer."
5- Due Diligence is Welcome: Now buyers are encouraged to order a home inspection, check on zoning
or city restrictions, get prices to add a room, before, buyer's often had to eliminate these contingencies to keep another
buyer from "scooping up their dream home".
6- New Construction: Builders have inventory and materials and labor are down. You
can build that custom home for less money today than 2 years ago!
7- Repairs are Welcome: You rarely see the "as is" home today. Seller's are willing to get
their home in tip top condition and are willing to have repairs done.
8- Less investors: Flipping homes is over. No more fixer upper and resale in 30 days.
It was estimated that about 30% of the home sales were from investors. Especially at the beaches and the condo market.
9- Location, location, location: Now you can often buy a home in an area that might not have been
a consideration before. Beach property is once again affordable right now.
10- Real financing is available: The creative mortgages are gone. No more 100% financing with
poor credit or for investors, cash outs are almost extinct too. This means the mortgage companies out there are competitive
and offering great fixed rates, special first time home buyer programs, special mortgages for teachers, fire fighters, city
employees and police officers. FHA loans are back!
How do you know it is the bottom of the market? Answer: when prices start going back up!
A down market is when millionaires are made. We can all say, I remember when you could have that "beach house" for $.......
it will be said again. Why not be one of the lucky ones in a few years and have that dream home at a great price!
