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Great Real Estate Deals That Won’t Last
(SF GATE) - Purchasing a home is one of the biggest decisions that a person makes. Because of the serious financial commitment involved, most buyers are interested in securing the best deal possible when purchasing a home. As the economy continues to wreak havoc on our jobs and plans for retirement, many people are wondering when will be the best time to purchase a house.
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Much like timing a move in the stock market, potential home buyers are waiting for the time when they can maximize their investment. Lower home prices, low interest rates and federal subsidies have all led to better deals in real estate, but these perks may not last much longer.
Lower Home Prices
Since the real estate bubble burst, many real estate markets have seen a dramatic price drop in median home value. While this can be devastating to home sellers or home owners who are underwater with a mortgage that is worth more than their home, it can be a great opportunity for the home buyer.
In many markets across the United States, it is truly a buyer’s market as prices continue to be well below levels from just several years ago. With many homes now going into foreclosure or short sales (where the lender agrees to sell the property at a moderate loss in order to avoid foreclosure), opportunities abound for the qualified buyer; that is, one who can still secure a loan.
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