It's A Buyers Market -Not a Waiters Market

Simply Stated, and pardon my direct demeanor.. but what are you waiting for?

So now comes the government to bail out Freddie Mac and Fannie Mae. Now what happens?

First.. in case you didn't notice, interest rates are now in the 5's!

Second, our government is now considering bringing back the seller assisted financing. Seems that our government is determined to stabilize this market.( my opinion)

Third- Buyers, you have so many choices.. AND.. Prices are low low low!

There are several homes in Taunton in nice neighborhoods starting at $130,000!

Buyers, you are wondering where the bottom is, it could be now or 1 year from now or 4 years from now.. but hear this..

Over time, not only does buying real estate give you a place to live, it gives you some great tax advantages where you can write off your mortgage interest and some closing costs ( check with your accountant on this).

I know of a family who in 1993, bought their first single family home for $122,000 at an 8% interest rate!, sold for a $40,000 profit in 2000. In 2001 bought their second single family home..for $175,000, sold in 2004 for a whopping $140,000 profit and then bought their dream home.. where they live now... I have to say, with all of the home buying and selling they did over the last 15 years, they told me that not once did they "time" the market.

Don't be so scared. If you are renting, you are just making your landlord rich. Even if prices come down more, it really doesn't matter because you probably will not sell your new home for at least 7 years. and again, real estate historically, though not guaranteed has proven to be a profitable investment over time for those that decide to buy.. in any market.

Over the past week, we have already seen some strong activity from buyers who want to take advantage of their market.. what about you?

Thank you for viewing my blog.

Lori Lincoln is the leader of Lincoln Team Real Estate and sells homes and real estate South of Boston including Taunton, Rehoboth, Berkley, Assonet, Fall River, Swansea, Somerset, Easton, Norton and more.

FREE MLS search