Wow the market has sure taken an upward swing in the past month. Homes that are priced to sell are receiving multiple offers and prices are being driven upwards in the amounts of sometimes $60,000 over asking price.
What is going on? Prices in our area have reached an all time low. We have not seen prices this low since the early 90′s. For all those people who were pushed out of the market due to prices of homes being so high, guess what? They can afford to buy NOW!
Not everyone got caught in the buying frenzie in the last five years. And not everyone has bad credit. There is a whole new cliental out there that waswaiting for the bubble to burst and burst it did. Now they are the ones who are buying up all the forclosed homes. Another reason they can afford to buy right now is the FHA, VA, and Cal HAFA loans have all made adjustments to their programs for the better of the consumer.
Don’t miss the market!! If you are waiting for prices to drop any further, you will see the market pass you by. There is already a bidding war you have to contend with. However there is a lot of inventory on the market as well as more forclosed homes to come.
For more information on how you can get started in buying these homes. Please give me a call or contact me at the following