Fact is: If you are thinking about buying your first home, you will get a great deal on a home that would have been out of your price range only months ago, and you will make money!!!
There are so many homes on the market right now that you will have your pick of the litter. Home sellers are conceding a lot of things that normally they would fight tooth-and-nail to keep during negotiations, which leads to getting more house for your money. Unfortunately the news media is keeping a lot of buyers out of the marketplace because the buyers feel that they will not be able to obtain a mortgage under the new stringent laws. This is simply not true.
Mortgage lenders are willing to work with anyone who has a decent credit history (or even a not-so-perfect credit history) as well as a steady job. But that is no different than it was a year ago, or even ten years ago.
So why is this the absolute best time to buy a home? Aside from a lot to choose from and the great prices that are currently out there, interest rates have dropped below 6% for the first time in over a year! Also, the market is about to bottom out, and if you wait until Spring, it may be too late!
If you talk with any Investment Advisor, they will tell you that if you want to buy stocks, buy them when the market isn't doing so well. You ultimately will get stocks on clearance, and then you can sell them off when the market is good for a quick profit. The real estate market is no different! If you have been waiting to buy your first home, don't wait too long!
TIP: Work with a real estate agent! You will not have to pay a single, red-cent when you purchase your home! The agent will negotiate on your behalf, the way that you want them to...and will also handle the important dates and paperwork. Find someone who matches your personality and knows the local market.
You can sign up for a totally free Home Watch Search that is sent to your email whenever a new listing is taken by emailing me at bkrull@firstweber.com Just tell me where you would like to live, your estimated price-range and how many bedrooms/ garage spaces/ bathrooms/ yard size/ etc. that you are looking for in your new home. No obligation, no fees, no pressure!
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