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The time is right to buy real estate, but just how long will this buyers market last? |
We are hearing that this buyers market will probably go on for another 3 - 9 months. This depends on where the property you are interested in is located. Always remember when it comes to real estate ? location! Location! Location!
What are some of the benefits of buying while in a buyers market; here is what we are hearing about some deals going through.
Most Homes are selling for 10-18% below the Asking Price
Sellers are providing warranty on things such as home heating systems and roofs.
Sellers are more willing to give buyers credit for needed repairs or update.
Sellers or paying for certified home inspections.
Mortgage rates have moved up a bit, still lowest rate ever seen in the last 20 years.
The advantages listed for buying a house in a buyer's market, also will work while looking for rentals and commercial property in this market as well. Hey while we are in this unprecedented buyers market if you do your homework you can be well rewarded.
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