Sit on the fence a little longer or buy a home now? Is it the right time for you? NAR predicts that for 2009 after falling for 2 years in a row, they expect existing home salesto go up 6 percent. Unemployment is high but the increase in affordability to purchase a home is what will have the positive impact on the housing market in 2009.
When it was a sellers market and the home sellers were making the profit, the home buyers were buying like crazy when they should have been afraid of overpaying. Now that the market is a buyers market and the best buys on homes are out there, many are afraid of overpaying now.
What is your ability? Can you get a mortgage? Do you have a down payment? Do you have cash?
It the timing right for you and your family to purchase a new home? Are you up-sizing, downsizing, first time home buyer, investing, relocating? If now is the right time, the homes on the market are on sale now.
Are you willing to make a move right now? Do you have a sense of urgency or are you just playing the waiting game for the deal of the century to come up? There are so many awesome deals on homes on the market right now in the Northern Illinois housing market.
Timing the real estate market can be hazardous. Home buyers that are waiting for prices to drop on homes risk the fact that interest rates can go up. On a 30 year mortgage a home on the real estate market would have to drop by 10% to make up for a 1% increase in interest rates.
Up-sizing is an opportunity in a buyers real estate market.
Old Home = $200,000
Sell at $190K = $10,000 less
New home = $400,000
buy at $380k = $20,000 savings
Your profit $10,000 🙂
There are so many homes on the real estate market right now to choose from and the Julie Anne Real Estate Team can help you narrow down the choices so you can select from the best homes.
We have a Best Buy List of the properties/homes right now that are the best buys on the real estate market in Northern Illinois. Contact us and we can share our Best Buy List with you and keep you up to date on the real estate market in Northern Illinois. We schedule showings quickly so we don’t miss the opportunities to help you purchase the homes on our list.
Is it your time now to purchase a home? Our Team would be honored to help you decide if this is honestly the right time for you to purchase real estate in Northern Illinois including Barrington, Deer Park, Palatine, Lake Zurich and the surrounding area.
Posted By: Julie Anne – The Julie Anne Real Estate Team at Keller Williams Success Realty