Riverside Realtor Blog - Alma Dizon

Alma shares her experiences and observations as a Realtor in Riverside California.

Tuesday, November 28, 2006

This is actually a terrific time to buy if you don't want to go with the herd

I keep reading in the paper that the market will be down for a while longer, and I even saw one article that recommended that buyers wait another 6 months. What for? I have to ask, to start a mini sellers' market in the spring?

Actually, this is good time to buy as the sellers who are on the market are more motivated (they're the ones who have hung on through the fall). I'm seeing some nicely priced houses that are fixed up now and look better than they did when they first came on the market last summer.

And there's very little competition right now from other buyers. So while other people are lowering their FICO scores by picking up items that they don't have to pay for until 2007 (which is basically the same as getting another store credit card despite the "no interest until...") or reducing their savings (ie., funds for closing costs and deposit) by splurging on tinsel, this could be a good time to get a home instead. Give everyone handmade gifts (homemade cookies and your children's art projects are priceless) and promise to have them over for lots of backyard barbecues once it gets warmer. And then they can give you housewarming gifts that will more than make up for budgeting during the holidays.

Or you can wait like everyone else and then see what happens when you're in competition.

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