Should I buy a home now? Should I wait? What should I do?
Many people are wondering if buying a home is a good idea right now. A recent article on CCNMoney revealed that RealtyTrac announced that the banks are the most desperate sellers. Lenders report 197,800 homes were foreclosed in the from Jan 1, 2008 – April 30, 2008.
So is it a good time to buy? Yes! And a good place to look may be homes that are bank owned. Banks are trying to get rid of many homes, and they may be willing to take less than what they are worth. Many people say to look for homes that are at least 90 days old. Definietly hire a broker to assist you.
Also have the home inspected to make sure the value of the home is truly there. Consider any maintenance or renovations that would need to be done and deduct that from the asking price. Hire an expert!
What does this mean for the Real Estate Brokers! More business!! Obviosuly they can get leads for first time home buyers at the lead exchange, and sell homes even in tough times.