Great Time for Buyers

By Carl Henn

Buyers get ready; if you have been waiting on the sideline watching the game as it unfolds now is the time to get your game on. Sure some of the rules have changed but the overall rules of engagement haven’t.

So why is it a good time to get in? Let’s take a look at a few important factors that are to your favor.

1. Soft Real Estate Market – Today’s market has continued to slide driven by the national mortgage mess, a shaky economy, and individual home owners who have found themselves in financial turmoil. Are we near the bottom? I wish I knew, however I can tell you that you can now buy an average selling home in Santa Cruz Co. for about $100k less than last month. There is also a lot of inventory on the market which has also been sitting for a while and owners are anxious to make a deal. For area specific detailed statistics please contact, Carl Henn.

2. Timing is Key – The buying season is approaching which means more buyers will be coming into the market which also means more competition for those really good deals. Don’t let them slip by. Start putting together your game plan now with a Realtor like myself who will help you negotiate the best deal, and work through the entire process so you will finish a winner.

3. Economic Impact – Is the economy really a factor if you are buying your dream home? The economy is a bit shaky but that is always a short term episode in comparison to long term real estate ownership. Forget about making a mint with two years of appreciation, I don’t think we will see those days again in our life time. Start thinking an investment in your future, one that will provide a roof over your head, equity build up, and tax advantages. Like Donald Trump says, “Real Estate is always a good investment”.

Don’t play the game alone:

If you are even thinking of buying this year, you need to put together your team. Start communicating with your Realtor (Carl Henn), loan agent/broker, spouse, and financial advisor. Meet face to face and get to know them. You wouldn’t play a game against the New York Giants alone so bring your team to the table and devise a plan.

Can you play the game? As I mentioned earlier, some of the rules have changed. Lenders have tightened down their restrictions for a loan which means not everyone can play this game anymore. This is an advantage if you qualify because that means there are less buyers to compete against. Your first strategy is to get pre-qualified and today that requires at least two if not all three of the following criteria. 1. Down Payment (minimum 5% but at least 10-20% for a good rate) 2. Good Credit Score 3. Proven Income Most real estate agents will not drive you around town unless you have that pre-qual letter. A good real estate agent like myself has a service by which to send you daily email updates of new or changed listings. This is a fantastic way to watch the market. I like to meet with my clients early on so I can put a face to a name and have a better feel for what it is that they need. Don’t be afraid to make friends and work with the professionals who are willing to help you.

Now is a good time for buyers to get into the game, I’m here to help you become a real estate winner.