A friend of mine is a real estate agent in a resort town. His name and town have been changed to protect the innocent. The basic concept is the same though---Now is a great time to buy and values are there!! Money is very inexpensive to borrow and your ability to leverage is great!! Here is what he wrote"
The market still has not stabilized. There are ## ish foreclosures and many troubled properties. We have generally 2-3 foreclosure sales a month. The current backlog is untenable. Many people abandon their homes, still the Banks don't move forward for months? The Banks won't deal on short-sale opportunities, then turn around and dump the houses/properties for 1/2 to 1/3 value; which guts the remainder of the market for lending 'comps' and exacerbates the declines in the market. There are many clear opportunities and a host of others that have become disillusioned with the market and are withdrawn, expired, or simply remain stagnant and on the MLS for months, even years! Still many are holding on to their precious townx area properties, not looking to discount further. A patient and studious buyer can save considerable monies and or get owner financing where before there was none. If you're looking to make your dollars go far in xtown, now is definitely the time to begin shopping! Call me.
I echo his sentiments and politely suggest you call me and we can look for a great property which will be a good fit for you!
