Real Estate is picking up as home sales increase. We are seeing more and more bidding wars on the lower priced homes. Look in the rear view mirror folks and you’ll see the bottom of house prices as they start to slide back up ever so slowly.
Investors aren’t making much money in the banks, so many of them are buying up real estate. Many of them are pooling their assets to purchase low priced homes. These money pools enable them to offset the risk of buying homes, making it a desirable venture. This means the regular family home buyer needs to be prepared to make a competitive offer if they want to buy a home.
No word if Washington DC will extend the tax credit as the deadline inches closer. If you want to take advantage of the tax credit, it’s best to avoid short sales and, in some cases, bank owned properties that are notorious for taking a long time to close. On the flip side, waiting could save you as much or more than the actual tax credit.
It’s a numbers and waiting game where everyone wants to win. If you’re a home buyer, buy because you want the house so you won’t regret the purchase later. There’s nothing worse than compromising to get a deal instead of getting the house you really wanted.