With interest rates consistently hovering around all time lows, it is a great time for buyers. When you take into consideration the tax benefit, the effective cost of borrowing money is incredibly low. With the Average Days on Market at 140 for Single Family Homes combined with the fact the approximately 52% of the listed properties have had a price decrease, the buyer has all the leverage right now. Furthermore, we are heading into what is historically a slower time of year. For those buyers that are out there, they have the ability to negotiate heavily and come away with a great deal. While nobody knows exactly what the market will do, if you can get a property 10-20% below current market value, then you are clearly building in a cushion. This week, the buyer market index is approximately 15 (it is a measure of the current rate of sale versus the amount of inventory...index above 30 implies it's a Sellers Market...Below 30 implies it's Buyers Market.)
Company: Windermere Exclusive Properties
Phone: 858-997-3704
Email: chad at chadbasinger dot com
