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To Buy or not to Buy, that is the questions.....

Everyone says it is a Buyer's market.  But buyers are still trying to get sellers to lower their prices even though many of the sellers are already at a point of taking a loss.  Nevertheless, at some point a seller will just go into foreclosure before lowering the price to a point of taking money to the table. A number of my buying clients have saved thousands of dollars by entering into a short sale.  Short sales take longer than regular sales because of all the time involved with the controlling interest bank. 

However, if you are a first time home buyer it is a particularly good time to enter into a contract to buy due to the fact that there are funds available and sellers are anxious to work with individuals who do not have to sell prior to purchasing.

Nevertheless, if you are the owner of a home and are anxious to enter the selling market in order to buy one of these bargains, you may have a bit of a difficult time. 

Three things primarily impact whether or not a home will move quickly. First, and always first, is location.  Second is the price and third is the condition of the property.  People are still looking for a bargain price for a home in excellent condition and in a great location. 

But what constitutes a great location?  For most people, it has to do with proximity to something....whether that is nature, shopping, work, child clare, health care, conveniences or ready access to one or more of these.  In terms of price, the conventional wisdom would be for a property to be priced competitively with other homes of equal value in the area.  This ususally means priced just below competitors.  In terms of condition, a number of things are relevant including cleanliness, upgrades, interior and exterior factors and possibly even staging.

So, whether thinking about buying or selling, time, planning and effort are important factors in making and following through with your decision.