Jul
28
Good Reasons to Buy Now: The current housing market is a rare bargain.
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Price pressures continue to strengthen the bargaining positions of buyers, while homeowners are feeling more desperate to sell, regardless of how many concessions they might have to make to close their deals. With more than half a million brand new homes languishing on the market unsold and a glut of existing homes that will take an estimated 8-9 months to sell, buyers have plenty of reasons to rejoice.
Some buyers are waiting for even lower prices, but they may lose out to tighter regulations in the mortgage lending market. If you’re thinking of buying a home, it may be easier to get the mortgage you want now than it is in the near future.
Buying a house is a major financial and legal process that typically encompasses a wide range of smaller transactions along the way. A single real estate sale – no matter how simple – will usually involve a smorgasbord of different specialties, professions, and areas of expertise, not to mention the potential for myriad emotional and psychological demands and reactions. For most consumers a real estate purchase does, in fact, represent the most comprehensive and complex deal of an entire lifetime.