The real estate market today is not much different than it was a year ago, and it is still continually getting worse for those who are trying to sell their homes. While the different news sources report that almost a quarter of home mortgages today are behind or in some part of the foreclosure process, the lenders are making it even more difficult for consumers to obtain home loans, making the market hard for everyone. Not only is it hard for you to sell your home if you want to, but is also hard for you to purchase a home as well.
The cost of foreclosed homes is also decreasing, and this is bad news because it makes the sellers trying to get rid of their homes drop their prices lower than they already are. It also prevents them from selling their homes, and decreases the values of the property. For homeowners that purchased their homes when the market was good, they can easily owe more money on the home than it is worth. And if they are unable to make the payments on their mortgage, it puts them in a terrible bind. For a seller, times couldn’t be worse, and if you are buyer who can get approved for a home mortgage, there is no time better than right now to purchase a home.
Homes have dropped dramatically in price, so many buyers are going to be able to purchase a home that was out of their price range just a few years ago. Not only are houses for sale at extremely low costs, but the interest rates are also very low, so they are going to be saving money as well. Now is the best time to buy a home, and it is going to be one the strongest financial decisions that a consumer can make. It really is a buyers market, and the buyers that are able to get approved for a home mortgage have many houses to choose from , no matter what their price range may be. This is the best time for anyone to buy a home, but it is a horrible time for those trying to sell. – Advantage Property Ventures, L.P.
Advantage Property Ventures, L.P. 