Take Me To Post Comment Form Your buying power may never be greater than it is today. As the inventory of homes grows, sale prices level off and drop, this signals the presence of a buyers market. When the market moves toward the buyers advantage, prices sometimes don’t drop at all. They simply stay at current levels, which still indicates a good time to buy – getting in before prices or rates start to increase. Here are some reasons to buy a home in today’s market:

1. Better Prices: With more homes on the market, sellers are no longer seeing the appreciation rates they had grown accustomed to. To attract attention, some sellers price their homes below market value in order to speed the sale.

2. Negotiating advantage: Buyers have a great pull when it comes to negotiation contingencies. Sellers must show more flexibility not only on price but on the terms of the contract.

3. More Choices: With so many homes on the market, buyers don’t have to settle. They can simply pick and choose from a variety of homes.

4. More time to choose: There is no need to fear the home might immediately slip away to another buyer since there are fewer people looking to purchase.

5. Homes in great shape: Competition has sellers spending extra time and money making sure their homes are in tip-top shape before putting them on the market. That means buyers can move in right away without the hassle of repairs or improvements to update the home.

6. Extra incentives: A deal that lowers your payments is certainly worth considering. Builders, developers and private sellers sometimes offer sweeteners such as redecorating allowances, new carpet or paint, landscaping services, etc. to attract attention and close a deal.

7. Attractive financing: As fewer buyers apply for new mortgages, lenders compete for business by offering more generous loan terms. Interest rates are low by historical standards, and buyers can take advantage of lower closing costs, waived fees, free rate locks and faster loan approval.

8. Immediate tax savings: Tax law favors homeowners in a number of ways such as deductions for points on a mortgage loan, qualified home-office expenses, expenses associated with investment properties and more.

Statesboro Board of Realtors