| Despite the "doom and gloom" that seems to be all | | | | even TWENTY properties or more to choose from! It |
| over the news regarding the real estate and mortgage | | | | is a buyer's market (meaning there are more |
| markets, NOW is the time to stop thinking about | | | | properties available than there are buyers to buy them, |
| purchasing a home and get out there and actually | | | | which gives YOU the upper hand.) You will have an |
| BUY one! | | | | easier time finding exactly what you want and you will |
| It's time to stop putting it off. Contact your favorite real | | | | have a better chance of getting it for the price you |
| estate agent (or ask me to recommend one to you) | | | | want, too. |
| and start shopping. Yes, the market is a bit crazy right | | | | And don't be overly concerned with financing. Rates |
| now, but there are some big deals out there, and signs | | | | are still near record lows. Yes, many of the more |
| that it is stabilizing. | | | | aggressive mortgage products have been |
| I have been in this business for over a decade and I | | | | discontinued. The days of buying a home using 100% |
| can tell you that I have NEVER seen the amount of | | | | financing are just about gone, but there are still low |
| inventory that we have now. Some markets are | | | | down payment programs available. Look into FHA if |
| reporting a backlog of six to nine months or MORE of | | | | you are a First Time Home Buyer or a 5% down |
| real estate inventory. That is because no one is out | | | | Fannie Mae or Freddie Mac mortgage if you have |
| there buying. They're apprehensive, they're nervous, | | | | owned a home in the past three years. |
| and they're missing out on all the deals. Let their | | | | You should still be cautious when shopping for a |
| indecisiveness work to your advantage! | | | | mortgage, though. I recommend that you speak with |
| When I go to the car dealership to buy a new car, I like | | | | your real estate agent. He or she will know exactly |
| to have choices. I am not happy when I show up and | | | | who the banks and mortgage companies are in your |
| there are only two or three cars on the lot. When | | | | area that you can trust. Let them refer you and you |
| there are limited choices, I feel like I am being forced to | | | | should have no problem. |
| settle for less than what I want. | | | | And if you are a First Time Home Buyer, don't forget |
| The real estate market had been like that for years. | | | | about the $7,500 Tax Credit that you will receive if |
| Up until the past year or two, a client would call, we'd | | | | you purchase a home between now April 9, 2008 and |
| figure out price range and area of interest, and there | | | | July 1, 2009. Thanks to the Housing and Economic |
| would be maybe three or four houses for them to | | | | Recovery Act of 2008, the federal government is |
| look at and choose from. And if they didn't act quickly, | | | | rewarding you nicely for taking advantage of this |
| they could miss the boat completely. And price | | | | market! |
| negotiating? Forget about it! With such little inventory | | | | So the bottom line is to get out there! Talk to your |
| moving so quickly, you needed to offer asking price (or | | | | agent, get pre-approved for your mortgage, and take |
| more ) or you would not be taken seriously. | | | | advantage of all the deals that are available before it's |
| Now things are different. There are ten, fifteen, or | | | | too late! |