Home Buyers... Will you take advantage?

Consumer Confidence was reported this morning and guess what, that's right more bad news! It came in at a 35 year low! The index fell to 64.5 which was lower than the March forecast of 73.3.
If the title of this index doesn't do it for you, this is a gauge of how confident people are in the economy. Also reported today was that housing prices fell once again across the county.

I bring this bad news up for 2 reasons. First, to report it to our readers. Second, to also point out that just because bad news is splashed around in the media doesn't mean it is a bad time for you to buy a home! The media is always looking to break the next story and bad news sells better than good news!

There are many home buyers out there that have been and are taking advantage of these conditions. While the economy is volatile, their situation is much more calm and they are looking to head down the path toward home ownership! The conditions are ideal for people that fall into this category. They don't have to worry about a home to sell, homes are selling at enormous discounts, inventory is high, interest rates are low, and there are still good mortgage products available! Add all this up and I wish I was a buyer again! If you truly are not ready to purchase a home, then please don't. Just continue to save and wait until you are comfortable.
However, don't let all of the negativity make you uncomfortable to buy and make the decision for you.

As a buyer you can be very picky on what you want as more homes have fallen into your price range. You can get more bang for your buck! Be sure to ask for seller paid closing costs and some are even getting allowances for new carpet etc. Remember you won't get them unless you ask! Your realtor will be able to point you toward homes and sellers that are more motivated if you don't know what to look for.

Just be sure to do 2 important things once you feel ready to jump into the market. Find a good realtor to work with (if you are unsure of who to use be sure to look at our strategic partners on our website for contacts) and get pre-qualified with a solid lender. You want to know how much you can spend and what program you will be on. With programs changing rapidly it is important to have a lender stay on top of it and keep you informed.

Just remember, there is a home out there for you and a good realtor and lender at your side will make it a smooth and enjoyable experience!

Don't let all the negativity get you down! After all, if you get a good deal on a home and a solid mortgage that you can afford; why do you care if banks are going belly up because of past bad mortgages? You just got a steal on your new home!

Brought to you by:
Professional Mortgage Group, Inc.