Opportunities for Property Buyers

After many years of rapidly rising home prices, home construction starts are now at the lowest level in the past fourteen years. Foreclosures are on the rise. Inventories of available homes are at a very high volume.

After many years of rapidly rising home prices, home construction starts are now at the lowest level in the past fourteen years.  Foreclosures are on the rise.  Inventories of available homes are at a very high volume.  Housing prices are declining in many markets, and stable in virtually all other markets.  Mortgage interest rates remain at historically low levels, and could go lower.

What do these conditions mean to you, if you are a prospective home buyer?  Opportunity!  Chances are you are going to buy something.  If you are serious about your task, you may be able to buy “more house” or a property in a better location at a price and/or terms you couldn’t anticipate last year or the year before.  No one can predict, with any certainty, when there will be an end to the conditions that currently prevail.  But, if your circumstances permit realistic risk, the time to begin looking seriously is now.  Learn about different areas and markets.  Try the market out.  See what’s available.  Make an offer, if interested.  This pricing equips you to take advantage of the current opportunities.  Don’t be bashful.