“When is a good time to buy a home?”

“When is a good time to buy a home?”, I get this asked all the time. Or, “Is it a good time to buy a home?”

Well, the past couple of years the inventory of homes has been low and the demand has been high. Currently as of today November 19, 2013 we have 24,164 active listings on the MLS (multiple Listing Service). this is much higher then even over the summer with closer to 17,000 active listings. Home buyers were putting in offers and having to compete for the same home with other buyers, which resulted in the buyers raising their offers and not asking for repairs on the inspection report, just to get the home. But that is changing rapidly.

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In the past couple of weeks, we have seen more listings going active on the multiple Listing Services, or MLS. Many of these homes are showing “back on Market” or “price reduced.” Typically when there is more inventory of listings, prices start to drop because many home sellers need to move, so the best way to move their home quickly is to drop the price a little below the going home sale. This is a great sign for those clients considering buying a home. The interest rates are still very low and with more inventory then we have seen in quite a few years, now is the perfect time to buy a home.
Call, email, or fill out the form below, if you or someone you know is looking to buy a home.

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