Thursday, August 17, 2006

Buyers Benefit From Market Correction

Slower Market Is Good News For Buyers

Just because the bidding wars of the last few years are over doesn't mean it is not a good time to own a home. In fact, the market correction that is taking place and balancing the market between buyers and sellers is good news for both buyers and sellers. Sellers are still seeing their homes appreciate, just not at the double digit rates of the last few years.

Buyers are benefiting the most, however. There is more inventory giving buyers more choices. Buyers also have more time to mull over their home buying decision. They now have time to sleep on a decision and don't have to fear another buyer will snap up their dream home if they don't act, NOW! Buyers, also, have more negotiating power now than in the recent past. It is not uncommon for sellers to pay closing costs, throw in appliances or paying condo or HOA fees.

Interest rates are up slightly, but are still under 7% which is a far cry from any historical highs.

If you are considering buying or selling a home in New Jersey visit my website and contact me to help you get the most out of your transaction.

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