I'm a first time home buyer and I'm looking for an REO home in parma.

Asked by Hollywoodhills, Parma, OH Fri Sep 25, 2009

Does anyone think it's best to buy right now or should I wait until the winter??? Will REO prices drop more this winter? According to my agent, my only competition is mainly investors right now. I understand if i close a deal soon i can still get the first time buyer tax credit. I'm a cash buyer looking to spend $40,000 to 60,000. I would appreciate any and all advice! Thanks!

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Bill Eckler, Agent, Venice, FL
Sat Sep 26, 2009

We advise our customers to not limit their property search to one specific market sector. By directing you efforts to only REO's, you may be overlooking other great opportunities.

It's true that there are some terrific opportunities for today's buyers in the short sale and foreclosure market but there are many equally good opportunities available in the traditional market as well.

Our recommendation is to explore all possible options.....your "best buy" may be where you least expect it.

Good luck
The Eckler Team
1 vote
John Wirsing, Agent, Pepper Pike, OH
Fri Sep 25, 2009
If you want that Tax Credit-You had better move! You have to have your deal closed (Title transferred before 12/1/09).
It's tough to say what the future holds. It is just as easy to time the real estate market as it is to time the stock market. In other words, you might time it, but it is by sheer dumb luck!
If you see a good buy-BUY IT!
If I can be of any help-please call me at 440-487-2193 or drop me an e-mail at John@CallRealtorJohn,com
0 votes
Mark Ryan-Ma…, Agent, Centerville, OH
Fri Sep 25, 2009
I would buy now...

Go with what you know...

- great prices
- great interest rates
- great selection
- free $ from the government...

Who knows what the future will bring but you do know what you have right now...

Hope this helps... good luck!
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