I agree with Tania, we have seen an increase in activity, and sellers realize the market is changing. Showings have picked up tremendously, interest rates are down, and the stimulus package passing is of great help to sellers. The Triangle area was the last to go into this down market but we are the first to come out. This is a good time to lock in before the rates go up, and prices go back to the aprreciation rates we are accustomed to. As the traffic, increases I believe you will see fewer opportunities for lease purchase.
Every seller has varying circumstances. Determining whether a seller is interested in a lease option would need to be explored on a case by case basis. One thing that we know about the triangle market is that inventory levels decreased by 11% in December and overall levels in Wake County are at 6 months. As showings have picked up, sellers are feeling a little more optimistic and may want to stick with trying to sell their home.
With that said, I would also recommend that you explore all options. Why is it a good time to buy right now? Interest rates and home prices are at an all time low. Mortgage rates have a huge impact on the affordability and monthly payment of your home. In addition, you can qualify for a tax credit of $8000 if you buy by December 1, 2009. Finally, inventory levels suggest that it's a buyers market which means that with the right tools, you can negotiate a great deal. It might be less costly in the long run to purchase rather than lease to buy.
I'd be happy to discuss all options with you. If I can be of assistance to you, please don't hesitate to call me at 919-740-2451.
There are sellers interested in lease to own options. I welcome the opportunity to assist you in finding a home ITB that accommodates your needs. Feel free to call or email me with any questions.
Thanks, Jacob Wiggins
details with you to get a better understanding of the reasons.
I am an agent that knocks on doors and cold calls without a hesitation to do so. There have been many occasions when a buyer is interested in a house which is not for sale or even on the market and I have approached the owner and created the scenario which was a win-win ending. I have the reputation for "going the extra mile for my clients" and "I make it happen !"
If you are serious - call me! (919) 782-2417 Home Office or (919) 599-7486 Mobile.
Janet Sher - Broker/Consultant with Raleigh Cary Realty.
As others have noted before everything is possible in this current economic climate. Each seller is different but if you prefer to lease before you buy you should present that offer and see what transpires. Often the deposit is considerably higher but this can be negotiated among the parties.
I would have your agent research what is currently available on the market and go from there.
As serveral have already indicated, anything is possible with sellers these days. I have found they are open to suggestions. It's just a matter of finding the right ones. I will be glad to search for homes in the beltline for you, if you would like, just let me know.
Thanks and have a blessed day!
Sellers are becoming more flexible.
A good lease-option contract may be a great way for you to get into a home.
I see some builders offering lease-options on new construction too.
It may be worth a try, and you won't really know until you go to the Seller and ask!
Also, a larger non-refundable down payment is usually required with lease options or lease purchases.
There are many choices out there both "regular homes" and MANY foreclosures in varying conditions and prices.