What makes for a “buyer’s market?”  Two things: 

1.)    Plentiful inventory.  Inventory is up in most markets, and that is true in Sedona, Arizona.  With the slowdown in most real estate markets since Fall of 2005, inventory of available housing has been growing.  To sell, sellers must be competitive with their pricing, getting and keeping their properties in the best condition, and maybe even offering incentives to buyers such as a percentage toward buyer’s closing costs.

2.)    Interest Rates.  Current U.S. averages as of 3/22/07, show that a 30-year fixed rate mortgage is running 6.16%.  A 15-year fixed is 5.9%! 

If you’re thinking of buying (even if you have to sell your home which has not sold yet), get yourself pre-qualified.  That will cost you nothing.  Get a clear picture of where you stand financially and what it would cost you in up-front cash plus payments to make a new purchase.

If making that new purchase is dependent first on getting your home sold, then see our Blog Entry of 3/25/07 on Tips for Sellers in Selling Their Home.

The opportunity is good for borrowing money, and there are lots of homes to choose from.   If you’re a buyer, this may be your moment!

For more information on this or any other subjects related to real estate, contact us at 800-979-1682, or email us at www.ClaudiaAult.com. 

Visit our website at www.ClaudiaAult.com