Changing Markets Mean Good News for Potential Buyers

Despite what you may have read in the newspaper about the “plummeting real estate market,” you should know that these changing markets mean good news for prospective Buyers. In some cases, properties have sold for 20% less than their original listing price this year. Furthermore, due to the high supply and stiff competition, more Sellers are offering Buyer incentives such as paid closing costs, seller carry-back options, and further discounts seldom heard of only two years ago. Needless to say, this is a great opportunity for Buyer-favored negotiations.

However, this opportunity may only exist for the next two years of 2008 and 2009, as financially sound high-end Sellers tend to take these properties off the market and rent them out, or they wait until the market bottoms out and starts heading up again to sell. This leaves only a small window of opportunity to take advantage of these steep discounts.

Furthermore, future rate cuts by the fed counteract the deeper perspective of a recession and coming election year. You can now take advantage of a great interest rate of 6.125% at 1 point as of 11/14/07 for a jumbo 30 year fixed loan, down from 6.5% with 1 point on 11/7/07; this is making for a financial boom for Buyers. If you don’t want to miss out on this stellar opportunity to get an exceptional value and make a profitable investment, call or e-mail today for my current list of Top 10 Best Buys in La Jolla.

Gregg Whitney