Low Prices, Low Rates = Opportunity
The best time to buy something is when no one else wants it = yes, another Opportunity
Housing
prices have fallen dramatically all over the country and rates on
30-year
fixed-rate mortgages are
already close to 5 percent. Experts say it's possible, with government
encouragement, that rates will fall as low as 4.5 percent. I believe
this is the way the market will go.
So ...... Now is the time for buyers to step up. Here are some things to consider:
I proudly serve and sell real estate in the Northwest Suburbs of Chicago. If you are thinking about purchasing or selling your home in the communities of Schaumburg, Hoffman Estates, Elk Grove Village, Roselle, Palatine, Medinah, Itasca, Bloomingdale, Carol Stream, Bartlett, Hanover Park, Streamwood, Elgin, South Elgin, St. Charles and more importantly, want to work with a local area expert, contact me immediately.
Disclaimer: All data and information provided on this blog is for informational purposes only. Lyn Sims makes no representations as to accuracy, completeness, correctness, suitability or validity of any information on this site and will not be liable for any errors, omissions, or delays in information or any losses, injuries, or damages arising from it’s display or use.
Buyers have great opportunities ©2009 Lyn Sims - RealEstateConsumerInfo.com
Lyn, there are so many chance to grab a great deal right now...I Have taken advantage of 6 in the 3 months...trying to do #7.
Lyn, low prices and low rates plus if you can pick an agreed upon location, it doesn't get any better than that for a buyer.
Gary & Bill: There are great deals out there and plenty of money to finance them. Buyers should get moving on them cause when the opportunities are gone?
Dear Lynn,
Opportunity is knocking! The buyers just have to hear the knock. We have to help them!
Barbara
Barbara, we have to get the word out don't we! I believe 4.5% is on the way!
Lyn, I wonder sometimes if we created some unrealistic expectations in the home ownership process. When I first bought a house, it was simple, come to the table with 20% down and closing costs. Equity was the portion of out PITI that we call Principle. We were paying that instead of rent. Our initial investment was secure in that house prices were steady, with perhaps some slow growth. The past 15 to 20 years home prices have gone up 2% to 7% er year in most markets, and buyers and sellers expected that to go on forever.
It is ironic how everybody is worrying about the debt load that our children will carry with the budget deficits incurred over the past several years, yet we watched as the American Dream of home ownership was slipping out of their grasp.
When this downward spiral ends, and it will, let's hope that home prices return to a slow and sustainable increase.
Lyn, I have no idea where that all came from (my comments) certainly not from your blog, I think I was just on a continued rant from a previous blog post. Sorry, Mike
Mike: That's OK, you are right that folks stopped thinking of their real estate as a 'home' and started looking at it as an 'investment'. Everyone knew that the 10% growth a year in my area was going to hit the wall and end sooner or later. I don't think the public understands that it is like the stock market - up one day, down the next only the cycles are a lot longer. We are just in a down cycle. We've been there before only I think this one is the most glamorized in the media. Did the stock market get this much bad rap? Peoples 401K's are disappearing and it's worse than the housing market. My 2cents.