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Could it be that some people waited too long to get a good deal on a home? I say ‘yes’ and here are the reasons.
Potential homebuyers [have] chose[n] the absolute worst time to stall on buying a home. Interest rates are at an all time low, foreclosures are rampant, presenting an endless possibility of getting more house for their money, and more choices than they’ll ever have. And yet, they waited and waited and continue to wait. What they have done is ‘waited’ themselves out of an opportunity.
Now on the seller side (and we’re talking about traditional, non-foreclosure sellers), a small window of opportunity has opened the door for owners of non-foreclosure properties to capitalize on the current processing freeze on foreclosure properties. Current sellers have been complaining about having to compete with foreclosures in their neighborhoods. Now that banks such as Bank of America have put a freeze on foreclosures (listed, processing and pending sales, etc.), a boatload of the competition has suddenly vanished.
That being said, what excuses do home sellers have now to wait?
- They have less competition in the market place
- More negotiating power in the interim
- The attention of more buyers who are now intimidated by foreclosures (they’re thinking that foreclosures may not be such a great deal after all)
Any seller that has been contemplating the sale of their home would be wise to jump not only at this window of opportunity, but through it. Sellers should learn a valuable lessons from the many potential buyers who missed their window of opportunity. Just for once in their lives, they need to take the leap of faith and be an opportunist.
Call me today to discuss ways to help you in this real estate market.
Thanks Charita Cadenhead for the information.
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