Is Now A Good Time to Buy a Home?

I get this question a lot from clients, “Is now a good time to buy a home, or should I wait?” Well, now more than ever is a great time to buy a home. Whether you are purchasing a home on your own or getting into a lease option, I will show you how you can take advantage of a great market!

When you buy stocks what strategy would you use to get rich, buy high and sell low or buy low and sell high? The same applies for real estate. You see, when everyone was buying homes left and right 2 years ago…it created a sellers market, meaning sellers could get almost anything they asked for on their home, this is the worst time to buy a home.

However, when homes are sitting and sellers are motivated, then the market becomes a buyers market, meaning that buyers now have the control. The control for what…well to get a deal! I will give you a recent example of a lease option that we just completed. The client that we were helping purchased a home, using a lease option, at $260,000. However the home is worth $325,000 easily, maybe even more. You see the seller was also a builder and was extremely motivated to get rid of the property.

Now when our lease option tenant qualifies for financing 2 years from now and purchases the home, even at a 10% markup ($286,000) they will have over $39,000 in equity, even if the home doesn’t appreciate a penny! So you can see that this market works for home buyers and lease option tenants alike.

So if you’re sitting on the fence and thinking that this market is something to stay away from…its time to think twice! To see what kind of deals you have available in your area, send us an email or give us a call and we would be more than happy to help you out.