Asked by Andrea Geller, Chicago, IL • Sun Mar 29, 2009
Potential buyers are chasing the market right now and never going to make it to the finish line.
With interest rates at historically low levels, the new Beacon mortgage credit scoring, plenty of inventory and great prices, the buyers are going to miss the opportunities if they don't go forward and get contracts negotiated.
You never know its the bottom until it starts to go up again. Now is the time to move forward. By setting back and waiting for the next great bargain, purchasers are missing the most favorable market conditions in decades. You cannot take advantage of the rates unless you have an executed contract on a property.
Ultimately, the property is going to be your home so the first and foremost item to pay attention to is does the space work for you, not what is the seller's situation, how many price changes has the property had or how long has it been on the market. Those are all secondary. Identify the property and then we can talk about those things.
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