Because there are so many homes available, many from bank repossessions, it becomes easier to negotiate a very favorable price. Many sellers have been waiting to try to find the bottom, and have finally decided to sell their homes. The fact that they have wanted to sell their homes for an extended period of time, makes them more likely to negotiate.
Rates continue to stay very low and it is a great time for obtaining a very favorable mortgage.
The long term investment in a home now is really an advantage as real estate is expected to increase in value in the next five to ten years.
If you have been considering a home and feel like your decision is making more sense now than a few months ago, we strongly suggest you get a pre-approval for a mortgage and begin your search. Remember purchasing a home in a down market is a fantastic long-term investment.
Arnie Goldberg--Marketing Director--Indiana Realty One -- arnie@indianarealtyone.com
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