My fiance and I are currently house shopping. We keep seeing this week the news about the housing market. Do you think we will be able to get a great deal because the people who are trying to sell their home will take whatever they can get when it comes to an offer? What I mean is, do you think they're worried about being able to sell their home now with the news reporting what it does? Do you think they will take less for their house than what they originally set their bottom line as just for fear of not being able to sell?
I'm currently in the Memphis, TN market if that helps. Thanks in advance!
2007-03-15 04:13:59 · 5 answers · asked by Holly 3 in Business & Finance ➔ Renting & Real Estate
We are getting married in 2 months and our lease will be up soon.... So now is the time for us to buy. I don't know why you think we should wait but it isn't happening!
2007-03-15 04:24:58 · update #1
BUY NOW
the thing is to negotiate the price.
If you know how long the house has been on the market, better for you. Obviously the longer it has been on the market, the better that is for you, since the family might be desperate for a sale....it is DEFINITELY a buyers market.
If the sellers are home try something like, 'this is such a nice house, why would you EVER consider moving....' then listen to the hard luck story....if hubby lost his job or whatever, offer 10k less then will work up from there... dont forget to ask for the appliances too.
Before you do any of it, be sure to get an inspection. The inspector can point out the flaws if there are any and make sure that you have justification for your request for a lower price.
GOOD LUCK
also have your real estate agent look into hud homes a foreclosed va homes.
2007-03-15 04:26:55 · answer #1 · answered by kissmymiddlefinger 5 · 0⤊ 0⤋
It depends on why they are selling. Some people are willing to wait, others are more anxious. Some people may panic, so it is possible that you will be able to get a good price. Because there are fewer buyers, I'm sure they will seriously consider all reasonable offers.
2007-03-15 11:31:29 · answer #2 · answered by Don't Know 3 · 0⤊ 0⤋
It depends on the person selling the house, and their individual situation...if you plan to stay in the place at least 5 years, you will be ok........I think you should wait until after you get married to buy the place.
2007-03-15 11:21:37 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I think it is a great time to buy a house. We are coming into the spring market and houses that have been sitting all winter are ready to reduce. I would buy now and remember, find what you want and start negotiating. Good luck in all your endevors.
2007-03-15 11:26:33 · answer #4 · answered by HOLLY C 2 · 0⤊ 0⤋
It's not the worst time. If you can afford to wait, then wait a bit more:
http://www.letsgobble.com/
2007-03-15 11:19:17 · answer #5 · answered by chase11209 2 · 0⤊ 0⤋