Real Estate Article:  The Difference in Today’s Market for Buyers

In the market that we had for several years, buyers had to do their home work and then be ready to fight for a house they want to buy.  They had to do this by out bidding other buyers.  This is part of the reason the market is having a problem to day.  This “bidding war” for houses caused prices to escalate way to fast.  It also caused buyers to push their house payment to the limit…or find some kind of strange loan to make the payment a little lower.  And now it is catching up with them!

But if you are looking for a home today, you are very lucky.

Yes, you saw that right…..you are very lucky!  And here is why:

  • There are many homes of the market.

  • Some sellers are very anxious to sell.

  • Many buyers are following the stupid advise the media is giving people (to not buy now).  This means there are less buyers out there looking and competing with you for the perfect homes.

  • Appraisers and lenders are very “gun shy” and will not let buyers get a loan on a home that is dramatically too high.

  • The interest rates are still very low (again, the media is telling people something that is not correct).

All of this means that your chances of getting a great home at a great price and a loan with a great interest rate are very good in the current market.

NOTE:  Currently the foreclosure listings are normally being listed well below market value in an attempt to get the sale price up.  It works if the home is in at least fair condition.  So be prepared to bid high for those homes, as you will probably be in completion.  Just be sure to check out the comparable sales so you don't over pay.

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Linda Grissette, GRI, e-PRO Certified

Keller Williams Realty West

Office: 636-229-8722

5377 Highway N, St. Charles, MO 63304   Office:  

Licensed in the state of Missouri.

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