Jan 2, 2008

Top 7 Reasons to be a Buyer in 2008

  1. Selection, Selection, Selection. There are more than 150 homes on the market in the larger Preston Hollow area (NW Hwy to Royal, Midway to Hillcrest). There are plenty of homes to choose and lots of options in many price ranges.
  2. The Market has calmed down. The feeding frenzy for lots has cooled. Builders aren't bidding up properties substantially. One reason is because lenders are being more cautious about spec homes while the new construction inventory is high. While there are no bargain giveaways in Preston Hollow, you can actually make an offer on a home built before 1970.
  3. Patience is tolerated. Take a breath. In the hot seller's market everything was rushed. Find a house and hurry up to make the offer. Today a buyer can take a little more time. Look around at several homes and think about your decision for a few hours.
  4. There are plenty of specs. The builder inventory is at a high. A good agent can help determine a builder's true motivation and how to get you the best deal on a new home in Preston Hollow. It's a great time to buy without having to compete with so many other buyers.
  5. Sellers aren't so easily insulted. This past year, the sell price list vs. list price ration was about 97% in Preston Hollow. With the longer selling time, sellers are more realistic. Most sellers welcome any offer - but that doesn't mean they'll take just any offer. Buyers and sellers are both getting real.
  6. Financing is available. Real financing. Fixed rates are back on a silver platter - if your credit is excellent. Gone are the zero down, no doc, adjustable, sub-prime loans. If your credit scores are good, you are golden.
  7. As a buyer, you are the belle of the ball. Qualified, ready & willing buyers can pick their dance partners. Go ahead, honey. Look around, be choosy. The handsome princes are lined up and waiting to fill your dance card. But don't get too full of yourself. This market has made you look real pretty to lots of sellers. But the Miss America contestants are just around the corner. Wait too long, and get too picky, and you could end up a wistful, lonely wallflower wondering how you missed the party.

1 comment:

Jeff Duffey said...

If I were in the market to buy a home - and I were not a Realtor - I would use Lydia Player. I could go on about her talents, intelligence and innate sense of marketing but I'd rather just say, "She rocks!" Kudos to you on your great new blog. I'll be reading!