Buyers Market

Greetings one and all! Today I wish to advise you on the concept of a buyers market.

Probably the only good thing that you hear about housing in the USA is that it's a good market for buyers. I am afraid that on this occasion and this one occasion only I am going to agree with the national media. Homes right now are at an all time high when talking about supply of homes. There are many homes out their for sale right now which means sellers are much more motivated when it comes to selling their home. They are lowering the price of their homes, sometimes in large amounts. They are making huge upgrades to their homes, new top of the line appliances, new furnaces, new central a/c, new roofs, new carpet, new ceramic tile and the list goes on. It is a good time to buy coupled with low interest rates!

HOWEVER.....

Do not.... I repeat..... DO NOT.... go into a housing search expecting every seller to bend over backwards to sell their home to you. There is a very good chance that the home you fall in love with is one that the sellers aren't all that motivated, so be ready to still make some sacrifices and compromises.

Also, because you are moving from a place like Miami, FL to Iowa City, IA don't expect motivated sellers to negotiate $10's of thousands of dollars below the asking price. No matter what, real estate is still extremely localized and although Modesto, CA has experienced a decrease of 20% in home values, Boise, ID home values have increased by 5%.

So...... be on the look out for those great deals but if you don't find them, don't be shocked to the core! Happy Housing!