Trick or Treat, Give Me Something Good to Buy?
October 20th, 2008 Categories: Buyer's Corner, First Time Buyers, Market Conditions, Relocating, Selling Thoughts
With halloween just around the corner, I know spooky isn’t it. Wow, where did this year go? You are sick and tired of hearing that now is a good time to buy real estate, well it’s not only good it’s the best ever. 
Buyers, wake up, get your butts out there and look at all the fantastic homes that are at bargain basement prices. Wah wah, you don’t have the down payment, think FHA. Now more than ever before, FHA type mortgages are becoming the most sought after loans by consumers. Today about 41% of the buyers are obtaining FHA type loans. What a sweet deal and the down payment is reasonable.
Wait a minute, you could always invest in the stock market or put your life savings in a bank, I think a mattress would be better at this point. In all seriousness, where is it safe to invest, right now, it’s real estate, it’s at an all time low, great houses are priced lower than ever and there’s nothing wrong with them.
Even in Boulder Colorado where home prices have always been higher than most surrounding cities, home prices are lower than ever and there are some sweet deals.
Seller’s have to understand that pricing their homes maybe painful but if they are moving up in a purchase, then they are really gaining because whatever they lose on the sale will be a greater gain on the buy side. Let’s look at an example: 
- A seller winds up selling a home for 10% less then list price of $200,000, this would equal a reduction of $20,000
- This same seller buys a home that’s listed for $450,000, but gets it for 10% less or a reduction of $45,000
- The net gain is $25,000. Not too shabby.
When you look at both sides of the transaction your loss on the sale will be more tolerable. Our housing market will not be like this forever. Don’t be spooked by the real estate market get out there an buy something before it’s too late, you will be in for a real treat. No tricks just sweet deals.
