Tuesday, October 09, 2007

Now is the time to buy!!!

It is a slow afternoon here in the office. I just read that gas prices maybe going up again. This morning stocks were well over 14,000. Gold is over $700. per ounce and interest rates for home loans are holding steady at just over 6%.
I have been going over market statistics for the Reno/Sparks, Nevada market and they really have some bright spots that people are letting the media dull.
Now is a great market for buying that larger, newer home you've been wanting for so long.
You can make a super buy in the next 4 months and motivated sellers are going to welcome you to make it. You won't be competing with multiple offers like we had in previous years. If you buy your new home through Rick Lund you will get contributions towards your closing costs and negotiated prices that you've never seen in the past. Even the lender might be willing to throw something in to get your business. There are still plenty of great loan programs available for either owner occupied or investor's.
Don't let the media scare you away. The loan programs that have been cancelled by lender's and now outlawed by the State of Nevada in SB 440 shouldn't have been available anyway.
What you don't realize about the Reno/Sparks real estate market is that the prices have only dropped by approx. 5-15% depending on the price range and location.
RENTS HAVE NOT COME DOWN....
Many people were buying rentals like we were going to run out of them soon when the prices were high and now I can show you the same home for substantially less money and the same amount of gross income and you've let the press scare you away.
We are now in a great buyer's market. Probably the best I've seen in my 29 years of selling real estate and people are afraid to buy. I have seen times where we had as equally motivated seller's in the early 1980's but the interest rates were so high no one could afford to buy. This market is different because prices have dropped and interest rates are affordable and many seller's would even pay to buy down the buyer's interest rate if they were asked to.
If I represent you,"I am not afraid to ask"! If you have a smaller home and want to buy a larger home you have an option of selling your existing home at a small loss to buy a larger home at a huge savings. I have all of the documentation to prove what I've just said, so why not call me.

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