It’s a Buyer’s Market….On Steroids!

A buyer’s market is simply when the advantage is to the buyer. Typically it is when there are more sellers than buyers. The first quarter of 2010 is a buyer’s market on steroids! Never have there been so many compelling advantages for buyers to purchase. First if eligible for the federal tax credit, the government is paying you to buy a home. Seriously! Second due to unprecedented number of foreclosures, house prices are down…way down. It would be safe to say on average in metro Atlanta down 10-20%. Third, interest rates at flirting with lowest levels in last 50 years and the fixed rate mortgage are the best value (and safest) instruments for mortgage financing. So in summary there are a flood of homes on the market to choose from at deep discounts. Rates are incredibly low. Sellers want to sell. A buyer can get a great buy from a motivated seller, with low financing terms on a safe fixed rate and get an additional reward from the government in the form of a tax credit. Forget the fact that Mark McGwire, Roger Clemens, or Alex Rodriguez admitted to being on “ROIDS”. The real story is the “ROBUST Buyer’s Market” in play for the first quarter of 2010. Call your Realtor now to start your own investigation into home ownership!