Do you want to buy a home and you’re looking for a good deal with high value for the price?

Posted by on Friday, October 24th, 2014 at 4:04pm.

You may have wondered why I’ve spoken out so adamantly against media hype. It’s because this self-serving practice by the media presents an unbalanced view of real estate markets and leads folks to believe that what’s true in some parts of the country is true for the entire country including their own local market.

Although I understand news organizations are private for-profit enterprises driven by the bottom line (the larger audiences attracted by hype translate into more advertising revenue), I will always object when a less-than-balanced view is presented to the public as the whole truth.

It’s true that many real estate markets throughout the country have been hard hit by the current crisis. California, Arizona, Nevada and Florida are the worst, with record foreclosures and home values in many places depreciating to their 2000 or 2001 levels. This means tens of thousands of homeowners are “upside down” in their mortgages and making monthly payments on homes now worth much less than the amount owed. Any of these homeowners needing to sell will need lender approval to make what’s called a “short sale,” which seriously affects the homeowner’s credit. 

On the flip side of this grim picture—and what the media fails to report—are the many markets across the nation that did not experience the record-setting double-digit jumps in home values during the boom market. On a whole, these markets today are not experiencing the opposite dramatic downswing in home values that’s plaguing other areas.

And I’m happy to report to you that our local market is one of those that’s holding comparatively steady. The local picture, however, is not all rosy—at least, not for sellers ...

We do have more foreclosures and pre-foreclosures (short sales) than ever before. With buyers holding back in fear of the market, we do have homebuilders going out of business with inventory on hand and builders who are drastically reducing prices in an effort to compete.

Simply put: our market is definitely a Buyer’s Market. And while you won’t find homes selling at 50 cents on a dollar, I can show you foreclosures and short sales that are priced below market. Foreclosures, however, are sold “as is” and often need work, and short sales can be unpredictable with the risk of never closing. The good news is ...

The very best values in our local market are new-construction homes, which must compete with foreclosure and short sales on price ...

Many good homebuilders today are putting their personnel, sub-contractors and craftsman ahead of profits. Keeping their people working means these builders must continue to sell homes even if they don’t make a profit. Not only do these builders know their workers’ families are in financial need, but they also know their workers would be hard to replace once this crisis is past and the market turns. When a builder reduces prices, he’s making a solid business decision to make sales so he can keep his business afloat. Now, it’s your turn to profit ...

As the buyer of a new-construction home, you benefit from a below-market price AND oftentimes generous closing-cost help from the builder. For qualified buyers, some homes have 100% financing options available, making them the “Deal of the Decade.”

So, if you’re ready to buy and you want a bargain without sacrificing quality, call me direct on my cell at 555-123-4567.

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