Deals! Deals! Deals!

I am having a hard time believing the deals to be found.  Everyone wants one.  And if the buyers are not getting one they are going somewhere else. 

Because my partner and I hate to see our sellers take a hit we are recommending they not list at this time.  The exception to this is sellers who have enough equity or their area is holding enough value to sell without taking a loss.   Most sellers are listening to us.  It feels so weird to have had only two listings so far this year (and to have turned so many down).  Those that need to sell seem to be giving their homes away.  Most sellers don’t have the equity or their area is just not holding the value.   The buyers all know this is a buyers market. 

However if you are a buyer this is a great time to buy.  In our area the mid size homes area taking about 20K off the prices.  And the larger homes around 50K.    First time homebuyers can also find great deals.  The first time home buyer tax credit can give you up to $8000 back in 2010 (or 10% whichever is less).  That incentive makes me wish I was buying a first time home.  Free money and great deals are enough to make me jealous.   

Buyers will need to come up with 3 1/2 % down for their mortgage.  The rates are wonderful whether you plan to buy or refinance this is definitely the time.   So be sure to take advantage of what is out there if you can!