Fact.
The real estate market is in a slump.
And while interest rates are still historically
low, many homeowners have stretched themselves
too thin by financing more than they can handle
in hopes that the market will remain strong and
their property values would increase.
Fact.
Just two short years ago, the real estate market
was at an all time high. And as the market
ascended, lenders loosened up on their
restrictions, providing financing to buyers that
wouldn't qualify in any other market.
That's because
even
if a homeowner did default, the bank would
foreclose and sell the home for more than the
owner originally paid.
They couldn't lose!
How things have changed.
Now, it can take upwards of six months to sell a
house. And that's only if it's the lowest priced
home in the community.
Buyers are scarce. Fearful the market will
continue to decline, many are taking a wait and
see approach.
That's what makes buying in this market so much
fun!
While most experts agree the market is still
declining, there's a phenomenal opportunity to
purchase homes well below market value.
So low in fact that one could ideally purchase a
home today for what it would theoretically be
worth 2 years from now, assuming the market
maintains its current rate of decline.
And two more declining years is a big if.
Many experts see a near end to this declining
market. After all, government officials are
working on tax breaks to stimulate the real
estate market and our economy as a whole is
doing extremely well.
What does that mean to potential buyers of real
estate now? Phenomenal deals!
Buyers have virtually no competition. All a
buyer needs is a little guidance.
The truth is banks don't want to foreclose. It's
expensive and they have no interest in real
estate sales. Furthermore, many lenders will do
anything to avoid foreclosure, even if it means
taking a loss.
That's what makes pre-foreclosures and short
sales so fantastic.
With little competition, buyers can see
significant gains to their bottom line.
All that's needed is for someone to show them
the way.
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