This could be the best time to buy. Inventory is up. Sellers are motivated. Interest rates are down.
Charleston, South Carolina, SC - The old adage “There’s no time like the present” might not first come to mind when looking at today’s national housing market, but according to "Carolina Joe" Idleman of AgentOwned Realty Co., these homespun words of wisdom are quite appropriate when a closer look is given to individual local markets across the country. "Carolina Joe" points out these favorable factors that can contribute to making this, for many consumers, a most opportune time to buy a home:
• Inventory is up. When the market is hot, new listings can’t replenish the supply of homes fast enough, and that works in the sellers’ favor. In today’s market, the opposite is true, providing more choices for buyers.
• Sellers are motivated. Homes that in a hot market would have been snapped up in days are now lingering unsold for weeks, even months. Factor in bank-owned properties due to the recent and unfortunate spike in foreclosures and buyers find themselves in an advantageous negotiating position they haven’t enjoyed for years.
• Interest rates are down. Recent cuts in the prime rate by the Federal Reserve have sparked drops in interest rates, which at the end of January were below 6 percent for a 30-year fixed-rate mortgage. While banks have tightened lending requirements in the wake of increased loan defaults, homebuyers with few credit problems qualifying to purchase a home they can afford should still have little trouble securing favorable financing terms.
What’s more, a market climate like this especially favors buyers who don’t need to sell an existing property before their purchase, buyers like first-timers and those looking for a second home. This tilts the scale even more towards many buyers.
But regardless of the situation, for every buyer, the key is to work with a real estate professional that knows the local market and specializes in buyer representation – like an agent who has earned the Accredited Buyer’s Representative (ABR) designation.
"Carolina Joe" is one of more than 50,000 members of the Real Estate Buyer’s Agent Council ASSOCIATION OF REALTORS®, who have attained the Accredited Buyer Representative (ABR®) designation. As the world's largest association of real estate professionals focusing specifically on representing the real estate buyer, REBAC is "The Voice for Buyer Representation," with more than 50,000 active real estate professional members of the organization throughout the world.
You may contact “Carolina Joe” by email at joe@carolinajoe.com, or by phone (843-557-9203). To search MLS go to: http://www.carolinajoe.com
To read educational and information real estate articles posted daily go to my blog:
http://www.carolinajoe.com./blog/
Charleston South Carolina Resort Communities and Their Golf Courses
Charleston South Carolina has some of the nicest resort communites in America. Learn about these communities and their world class golf courses.
Summerville Realtor Becomes an Accredited Buyer’s Representative
Summerville Realtor "Carolina Joe" has achieved the ABR designation. To obtain the Accredited Buyer's Representative designation Realtors must complete comprehensive training in the classroom along with submitting documentation to verify their professional experience.
Moncks Corner Realtor Receives ABR Designation
"Carolina Joe" has received the Accredited Buyer's Representative designation. To obtain the ABR designation Realtors must do extensive class work and verify their professional experience.
