You're not the only one.
There is a lot of confusion on the market. I've had more than one person look at me incredulously and say, "You're closing deals??? NOW????" Or "There is Money Out there to be LOANED???" I wanted to let you know that the answer to both of those questions is a resounding YES!
Remember: when the national news media tells you that the US Real Estate Market is "Bad" it's like giving you the statistc that the average temperature in the US yesteray was 82. How relevant is that to you locally?
Here's some information for you:
- Last month I was able work with buyers and close on an FHA-funded loan in 7 business days.
- This past week, I placed a home on the market and received a great contract on it in 5 days. No, this property was not price slashed or discounted – and neither was the offer.
- I'm working in close connection with lenders – and there is money available for loans for qualified buyers at great rates!
I know that many out there are trying to time the market. Think about this – people who "time it perfectly" are usually lucky. The rest of them know the market has hit bottom because it's already going back up. That's how they identified the "trend."
In my opinion – now is the time to:
- Move up. You may not make as much of a profit on your home as you had hoped. However, it's very likely you will be able to get a great deal on your subsequent purchase and more than make up the difference. And think about the appreciation over time…
- Invest. Once the media says "now is the time to buy," the market will be flooded. Serious investors are buying now. Additionally, if more banks fail credit will tighten and rates will go up.
So…
- Now is the time to negotiate from a position of strength.
- The selection is good right now – that said, in coming weeks and months it's my opinion that sellers will pay attention to the national media and will either pull their home from the market or not enter.
- Once you've made your purchase – hold for at least 5 years.
If you have any questions about your home – or a prospective purchase – please feel free to call or email. Or if you have general questions about the health of the Central Texas