Buyers & Sellers - Your Questions Answered

There are two questions which can quickly produce a feeling of overwhelming burden. Buyers are wondering if it’s a good time to buy while Sellers are wondering if it’s a good time to sell. There is currently an unbelievable amount of homes for sale with a shortage of Buyers in turn producing lower prices making it an amazing time to buy!  Rich Levin shares some excellent points to consider.

Buyers:

• Down payment requirements as well as interest rates are indeed still incredulously low.
• Business insecurities are making people unsure of their buying decisions, causing them to choose to not purchase.  
• This is an incredible time to buy a home you may have never thought you could afford!
• Speak with a lender or ask your Real Estate Agent about mortgage qualifications. If you are able, buy now!
• No regrets! Eventually, inflation will cause interest rates and home prices to rise. You don’t want to look back wishing you would have bought when prices were low! 

Sellers:

• While it seems to be a bad time to sell due to prices being low, if you are a seller looking to by now is a fabulous time to make that move. You may sell your current home for a lower price but you will make up the difference in your next home purchase.
• With all this said, if you can wait to sell, wait. It could mean waiting a year or two but the rise in prices will occur quickly when the market picks back up!

Healthy Real Estate Areas:

• It is fairly easy to determine a “healthy” town from an “unhealthy” town. Are there a lot of homes on the market? Are they selling quickly or just sitting there?
• Drive around neighborhoods of interest looking for “for sale” signs and use your resources. Search online or call the Real Estate Agent to see if the home is still for sale.
• Look at the job market. In most areas with job stability, most people aren’t selling and there may even be more qualified Buyers than there are homes for sale.

·       Ask your Agent to do research for you and provide a list of homes for sale, under contract and sold. Once the list has been provided, compare the homes for sale versus the homes sold. This too will help you to determine what kind of market your are surrounded by.

For more on this topic go to BrokerAgentSocial.com

 to view the full article by: Rich Levin, rich@richlevin.com