Current Property Market a Complicated Affair
Experts are claiming now is the perfect time to buy or sell, the Chicago Tribune reported, however the number of homes available for sale on the market is significantly down.
Real estate agents at Re/Max Signature said that anything that comes on the market gets sold very fast and so it may appear a good time to sell or buy.
The real estate business said that there are are a number factors both buyers and sellers need to consider:
1. Everyone needs to be a realist, even if the market is looking better than it has for awhile.
2. Both sellers and buyers will have to compromise.
3. Although more homes are being sold, prices are quite reduced.
4. Many sellers are a little disappointed in the prices they are getting.
5. Because there is only a limited inventory in the market, buyers will not always get the low prices they want.
6. Real estate agents recommend home owners need to present their home in the best condition to get the best prices.
7. Bankers also work some times with distressed borrowers to speed up the process of the sale.
Those looking for homes to buy are also advised to wait another year if they cannot partake in home buying expos, such as the event at the Illinois Institute of Technology, where for the first time, home buyers could sit down with a loans agent.
The event is designed to help participants qualify as buyers to receive mortgages they can afford, federal invome tax credits and cash assistance for down payments and closing costs.