You should make an offer that best fits your financial requirements. Interest rates are low and prices are to sell, Id make an offer. Waiting another year to save money will more than likely cost you more money. Once the new year starts the prediction is that because interest rates are so attractive and because home prices have dropped signifcantly that more buyers will buy, there for highering the demand and lowering the supply. Forcing interest rates back up and prices to start climbing up as well. If you have any other questions do not hesitate to call me at 1-347-702-3316

Thank You

Lou Belisario
Fillmore Real Estate

There is no set formula for pricing of real estate. The federal government is trying to get the 30 yr fixed bench mark mortgage rates to 4.5%, i think that should be real bottom-out. All assumptions to what we read. But if u r getting a deal & mortgage rates to historic low = good time to invest in real estate.

grandfinance@gmail.com

Tami, Time is on your side...http://www.nytimes.com/2008/12/07/realestate/07deal2.html

Become informed about your market, check out independent market trend reports, housing prices, foreclosure numbers for your area, jobs outlook. You may decide to go ahead and buy, but at least you will be able to determine which real estate agents are being honest with you, Buying is a huge financial decision, spend some time and save money by learning all you can.

There are some very good and honest agents but you need to be able to know who they are....

Good luck finding what you are looking for, Dunes

Wait another year, save another 20%. Good Luck

Tami,

Your best bet would be to hire a Buyers Agent, who will work in your best interest. Typically a Buyers Agent is still being paid by the seller. A buyers Agent will check all the sold comps as well as discuss with you what is happening in that local market. They will help you determine the right price to offer. The figure you have of $20,000 for closing costs seems high. Check to see exactly what they are paying for. You have closing costs and pre-paids which would be paying taxes and insurance, etc. up front so when they are due, the Lender has enough in your escrow account to pay them. On the other hand, interest rates have come down and there are some good buys in the market. Good Luck.

Tami,

Are you working with a real estate professional? Or are you dealing directly with the builder/developer?

One of the services an agent provides is making available the information a buyer requires to make THEIR best decision. A local agent may know of other recent incentives, recent sale prices, and other important information relative to a prospective buyer.

The best part is their services wouldn't cost you anything since the builder would cover them.