Website design By BotEap.comWith today’s volatile real estate market, many are taking a “wait and see” attitude before committing to buying a home. Caution is never an unreasonable position, especially when considering the largest investment most people will ever make. Taking the time to fully investigate with the help of an experienced real estate agent who has experience in a particular market is absolutely the right approach.

Website design By BotEap.comAlthough few will delight in profiting from the misfortune of others, due to the drastic increase in available housing inventory, it is a buyer’s market with some great deals to be made. Sellers are highly motivated, willing to bargain and cut prices. Short sale and foreclosed homes are available below market value, offering instant equity upon purchase. For a primary residence or investment property, this may be the ideal time to purchase real estate.

Website design By BotEap.comQualifying for a home loan is more difficult for many now than it was in recent years and the relaxed requirements that have resulted in the current crisis. This is not bad news for buyers, as predatory lending to those who really couldn’t afford it in the long run had disastrous financial results for buyers. Today’s reputable lenders are simply reverting to the requirements of years past, requiring a down payment on the property, usually 20 percent, good credit and proof of income. For those who qualify for prime loans, interest rates remain very favorable. Wisely selected below market value properties purchased on such favorable terms can make a real estate investment today an excellent investment.