This week I want to talk about buying in a stabilizing market. When the real estate market is booming and the prices are going up, it is obvious that buyers should make decisions fast before the price of their favorite property goes way up.
However, in a stabilizing market, where we see softer sales and listings that are coming out faster than they are selling; it is sometime hard for a buyer to make a decision because of the notion that there will be a lot of new listings coming out and the prices will go down.
In my personal experience and also with clients, it is always a great time to buy when you are ready to buy. And in a stabilizing market, where there are listings that are not selling as fast, a great real estate agent will be able to get you a great deal.
Additionally, in most stabilizing markets, the buyer is usually able to take advantage of the best mortgage rates available and saving as much as $30,000 in a 5 year period in interest payments. That's a lot of money!
So if you are ready to buy, a stabilizing market will be a great time to buy because you will be able to secure a great deal and have a large amount of mortgage payment savings.
Feel free to contact me if you have any questions.