Wednesday, January 12, 2011
Wacky, but what if you want to buy a house?
Ellen James Martin, AZ Republic, Jan 9, 2011, says some people still want to buy—and they want bargains!
Anyhow, A real estate agent quoted was bullish on prices heading up for planned communities with gates, presumably, and pools, fitness centers, and schools to go with.
Be warned, though—buying in this market means a longer process, more paperwork, a big down payment. A short sale can take up to nine months. Even longer sometimes.
The advice is to move right along—get your bid in.
Winter is a good time—more competition in spring.
Watch for homeowners under pressure to sell—say someone moved to get a better job or was transferred. They might have two mortgages.
Realtors will tell you things like this now.
If you are waiting to sell your home for more before buying, see if the discount you can get on the purchase is more than what you might get by waiting.
Also look at spec houses builders have—they will often deal.