A few readers have made comments on why now is a good time to buy. Some of these are from a recent Money magazine article, others were added by readers. I thought we'd compile them and add to them, gathering the wisdom of the crowd.
Top 8 reasons to buy now (in Portland):
1. Record inventory, more houses to choose from, in all price ranges
2. Sales are down 40%, much less likelihood that you'll get into a bidding war, more time to craft a good offer
3. Interest rates are still low
4. Median prices have already dropped more than 7% from the August 2007 high, a savings of $21k on a $300k house
5. Some houses are being priced more realistically
6. Sellers are starting to drop their prices when they don't get offers
7. Sellers are starting to understand that the spring bump is more of a molehill, and are much more willing to negotiate
8. It's difficult to time the bottom (but not impossible!), but you're better off now that you were last year. Still, things are likely to keep going down, so don't be afraid to ask for more discounts.
We'll get to reasons NOT to buy now in the next post. But for now, what other reasons do you have?
Showing posts with label reasons to buy now. Show all posts
Showing posts with label reasons to buy now. Show all posts
Monday, May 12, 2008
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