Prices are still on the decline, and the market is still very slow. Is there any good in this market?
If you are a buyer - there is no better time to buy property, a condo, or a house. Interest rates are unbelievably low, and will probably go a little lower. There is still a very large selection of homes on the market, and there are some wonderful financing opportunities available. If you are waiting for the "bottom" don't wait too long - you'll be looking back when the market tightens and interest rates begin to increase wondering "Why did I wait so long - I missed it!".
Just as the opportunity to purchase almost any home and know if you sold in 5 years you'd make some money fizzled - this "Buyer's Opportunity" will also pass.
Transfers, retirement, health problems, divorce, job loss - sometimes you need to sell your home. Be prepared to compete with bank owned homes/repos in this market. Banks aren't "giving homes away" anymore - you already missed some of that train ride. There are still some fantastic offers - but the road is starting to turn.
Sellers today need to be ready to offer a very good price and probably some incentives. If all of the other houses on your street have dropped in price 2, 3, 4 times - you need to consider a price drop. Your neighbors are your competition!
Give us a call today at: 440-315-6000 or 1-800-974-5184 if you are considering buying or selling a home.
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