Never have we been in such a state in real estate. At least not in my near 24 years in real estate sales. Who do you believe when making buying and selling decisions for 2012? There are lots of opinions and “experts” out there. I don’t have a crystal ball, but I do have an opinion on what is in store for 2012.
Buyers are going to do well!
Take the incredibly low interest rates, add an overwhelmingly long list of available homes for sale, adjust for being at bottom or near bottom prices, and you end up with an amazing opportunity in front of you. I will post this and look back in December 2012 and see how close I am to being correct. I believe 2012 is the year to buy, if you are considering it. Cash will continue to be “king”, those that have it will have the best buying power. Those who need loans will still benefit. Historically, the rates are extremely low, which buys more house for your money. Lower rates also means more qualify and if the banks loosen up more money to the consumer, we have the perfect combination of factors.
In order to position yourself to purchase with a loan, the best advice I can offer is talk to your lender of choice and get pre-approved for a loan amount. It’s the best way to start your real estate search, it helps your real estate agent do a better job negotiating on your behalf, and ultimately you’ll have a better chance at getting your offer accepted when you competing against other buyers and/or get you a better “deal” on your home purchase.
There are a lot of “deals” to be had, but some of the best ones are foreclosure properties. You can request to a free listing of Central Coast foreclosures here.