As you know, the market is down right
now. Homes are having a hard time selling and loans are harder to come by. But
it isn’t all bad news. For those that are looking to buy their first home with
good credit-it is a smorgasbord out there! Great prices and lots of homes to
choose from.
For those that are looking to get into
a bigger home, it isn’t so bad. People are looking at it like it is the end of
the world, but it is just different than what we are use to. I do understand
that your home you need to sell will be worth much less than expected, you could
even owe more on it than what it will sell for. But understand that the home
you
are buying will also be priced
low. Most people moving into a more expensive home will actually come out
ahead!
Don’t let today’s market scare you.
There are many foreclosures out there. Many more homes are going into a short
sale. This is when the home is getting ready to go into foreclosure. The offer
on the home is lower than the amount necessary to pay off the loan. The bank
would have to accept this lower amount. If you are looking to buy and are
considering a foreclosure or short sale, it is important to have a realtor that
is knowledgably in this area.
