1) Section, variety, choices! It’s never been better; it’s like being a kid in a candy store.
2) Make an offer. Back up a couple of years, when you made the offer you had to compete with several others. Many times you had to pay higher than the listing price in hopes of being the best offer!
3) No bidding wars. There is no competitive bidding in this market.
4) Few, if any investors. Statistics say that 1/3 of all sales in 2005 were investors. This caused the market to inflate unrealistically and mortgage loans were given on a handshake.
5) Real loans are available to qualified buyers. Fixed rates are back, FHA financing, first time homeowner programs and special loans for teachers and police officers are back. Mortgage loan rates are at a historical all time low.
6) Plenty of time to browse. In the hot market, buyers were rushed; they had to find the house before somebody else did and hurry to make an offer. Now you can look a several homes and take a few hours to think about your decision.
7) Plenty of builder homes available. In the past when you wanted a brand new home you had to get on waiting lists, enter a lottery and attend a party to see if you won or sleep in your car in order to be at the front of a line when a new development was announced. No more waiting and builders are offering great incentives to new buyers.
8) Repair request are honored. Back in the day, when a buyer completed the home inspection, the decision was usually “do I take it as is or move on.” Backup offers were common and buyers didn’t want to upset the sellers who knew their home value was increasing daily.
9) Due diligence is protocol again. Buyers are back to basics getting their termite, mold, radon and home inspections as well as putting appraisal contingencies back into the contracts. Buyers have the advantage of feeling good about making sure they are getting what they paid for.
10) Pride of ownership and mortgage interest deductions. Pride of ownership is the number one reason that people want to own their own home. It means you can paint, modify and decorate to your own taste. You are also investing in your future and you can deduct the interest you pay on your mortgage from your taxable income.
So what are you waiting for? The time to buy is NOW!
Beth Brown P.A., GRI, ABR
Coldwell Banker
550 5th Ave S.
Naples, FL 34102
Cell 239-250-2408
Fax 866-814-2967
BethBrownRealtor@comcast.net
http://www.callnapleshome.com/
http://www.naplesforeclosurereo.com/
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