Who Wins when Real Estate is Down?
October 29, 2008 by Bob · Leave a Comment
The answer is…
The First Time Home Buyer! The first time home buyer represents a huge opportunity for the For Sale by Owner (FSBO)
home seller!
- They have an opportunity to buy homes today that don’t have inflated values…
- They don’t have to wait for their home to sell…
- They have sellers willing to pay their closing costs and buy-down already low interest rates….
- They are in the first “Buyers” Market in nearly 8 years….
- They have the largest selection of homes in 15 years…..
- The current down turn in pricing will allow them to buy homes in neighborhoods that were out of their reach 2 years ago…
- They can get that extra bedroom or bath or garage…
- They can still buy a home with 3% down, a job, and reasonable (not perfect) credit through FHA..
- If rates go dramatically lower …FHA has a streamlined refinance program that doesn’t require re-qualification of the buyer…..
- If they buy before July 9, 2009 they are eligible for a $7500 tax credit
- If they buy before Dec 31 2008 they will get that back with their 2008 return
This is a life changing opportunity……
photo credit: Casey Serin
Bob is a Denver native and involved in the real estate business for over 18 years. During this time, he has closed over 500 transactions, and has been the broker of record for 1000's more. Bob can be reached via email (bob@byownercolorado.net) or phone (303.770.1180.)