Buyers Ready to Snatch Bargains This Spring

Buyers Ready to Snatch Bargains This Spring

Bargain prices on housing combined with low interest rates below 5 percent may bring the real estate market its busiest spring season in years, economists say.

Distressed sales continue to put downward pressure on home prices, which may lure more buyers off the fence and ready to snag a deal during the typical prime-time buying season.

Some builders are ramping up discounts on new homes as well as boosting commissions to brokers to try to spark more transactions.

Sellers of existing-homes also are getting more competitive in pricing their homes.

“After three years of the housing downturn, people are becoming much more realistic in terms of valuing their homes,” says Lawrence Yun, chief economist at the National Association of REALTORS®.

An improved job market with better income potential may also motivate more people to buy, says David Berson of the PMI Group.

“Household formations are also very important,” Berson says. “Kids may have moved back in with their parents, or two people may have moved in together, because of job concerns. Now they can move into their own place.”

While interest rates are sitting comfortably below 5 percent for now (30-year fixed rates averaged 4.76 percent last week), economists warn the attractive low rates won’t last long.

“Few think mortgage rates are going lower,” says Mark Zandi, Moody’s Analytics chief economist. “It’s more likely they will be 6 percent than 4 percent next spring. This lights a fire under buyers.”

Source: “Discounts Expected in Spring Housing Market,” The Wall Street Journal (March 22, 2011)

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About AmyCraft

I've made a commitment to serve the real estate needs of my community - one family and one home at a time. My real estate knowledge and expertise are completely dedicated to you. I am a Graduate of Champions School of Real Estate and came into the real estate profession with an education background. Prior to working in real estate I was the owner of a successful daycare center. My career as an educator was very rewarding and taught me many things that I believe I have benefited from in the real estate industry. I have learned such things as negotiating with people while always keeping their best interest in mind, listening to what they are saying, maintaining flexibility and understanding, performing multiple tasks simultaneously and how to be assertive yet remaining calm under the most stressful situations. A real estate deal may be the biggest financial transaction a person will ever make. I try to respond to peoples concerns and fears with as much information as I can provide. Most importantly, I want to make sure my clients are comfortable with a certain price range rather than trying to push the pre-approved amount on them. I'm not a pushy Realtor, but I'm aggressive when it comes to getting my clients what they want. Whether you're looking to buy or sell, I can get your home sold, or find you the home you've been dreaming of. Either way, my goal is to make your experience comfortable, guided, fast, and efficient. After all "Nobody Knows The Area Better Than A Good Neighbor".
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