Smart Buyers Can Profit From This Real Estate Market

After the the economic crash in the fall, experts saw housing prices go down by 18.2%. This sharp drop in housing values has impacted homeowners severely. But it has also created a buyer’s market for savvy people who want to capitalize on the low housing prices to purchase a house in the current market. Lenen is an article in Dutch with their opinion.

Real estate values descended as far as almost 20% according to one study on the current market. Homeowners who once regarded their house as a nest egg are now watching their homes being valued for much less than what they could have gotten during the booming real estate market. Many homeowners are realizing that their house is worth considerably less now than when they bought it in the first place.

As real estate values have spiraled down, so too have new home starts. There is an overflow of available and affordable housing on the real estate market throughout the country. With housing values spiraling down, numerous buyers see an opportunity to wade into the real estate market and go hunting for a deal.

With real estate prices dropping like a brick, affordability has become a factor. If people were smart and had saved a large amount of money to put down as a down payment, they can probably get financing provided they have good credit. While banking concerns might be drying up, there are plenty of other institutions and federal entities that can get qualified buyers a loan.

Homeowners who were toying with the idea of putting their house up for sale are reconsidering that idea because of the reduced real estate values in the current market. They also realize that they may not get the price they are asking for their house, but substantially below that. If homeowners don’t have to sell out of dire financial necessity, most experts are advising people to stay put where they are.

The fact that real estate values are plummeting is not good for the economy as a whole nor pleasant for homeowners. Nevertheless, it is providing some people an opportunity to purchase a house at a much lower price. With this many houses being for sale due to foreclosure, many homeowners who want to sell their homes are finding themselves competing with lower priced homes put up for foreclosure.

About the author

Sherry Fields Sherry Fields has been working in real estate since 2002. Working with the development team for the Hilton Garden Inn gave her strategic information on the commercial real estate market in Missoula. Broadening her scope she moved into the residential market and earned the designation SFR in short sales and foreclosures. Currently affiliated with Prudential Montana Real Estate, she works with both buyers and sellers "building relationships so you can buy & sell with confidence". Sherry Fields has recently earned the CREN designation - Certified Real Estate Negotiator. While price is a large part of negotiation - it is also about timing everything from the closing date to inspections, appraisals, home insurance - and it is about negotiating items that can show up in home inspections to achieve a mutually acceptable outcome.

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