If you are currently considering whether or not now is the right time to buy a home, you are in luck. You have probably heard the term “buyer’s market.” A buyer’s market means market conditions favor buyers as opposed to sellers. This could not be any more true as we head in to spring 2011.
Southeastern Wisconsin is saturated with properties with a tremendous range in price. Properties are currently listed by sellers for a variety of reasons which may include, but are not limited to, relocation, financial hardship, divorce, and other changes in familial status. Sellers in these situations don’t necessarily want to sell, but have to sell. Because these sellers have to sell, and because there are so many properties on the market in which they must compete against, prices have fallen.
In addition to a high volume of properties on the market, interest rates remain at record lows. Over the span of your loan, these record low rates can save you tens of thousands of dollars; not to mention keep your monthly payments down.
A buyer’s agent can help you find exactly what you are looking for. In many instances today, even exceed expectations. A buyer’s agent does not receive any upfront payment for services. They are only paid after a successful closing. Why do I mention this? Because if you are looking to buy a home, a buyer’s agent can help you find exactly what you are looking for — the right location, the right size, the right style, and of course, the right price.
Brian A. Peters, M.B.A., M.S.A.
Tags: brian peters, buyer's market, current housing market, living in southern wisconsin, real estate agent, real estate market, real estate trends, southeastern wisconsin real estate market, spring 2011 real estate market