Waiting to Purchase a New Home?

Waiting to Purchase a New Home?

We are all aware that the Real Estate Market is slow in some areas of North Carolina. At the same time, housing is still at its most affordable level in years. So why aren't buyers purchasing more homes?

1. One reason is how much credit is available to buyers. There are more hurdles in obtaining a mortgage than before. In addition to showing that you can afford to buy a home, even if you have a lot in savings, banks want to see income. Lenders want to see W-2 forms.

2. Some buyers think prices will fall even lower.  Home prices are low now, mortgage rates are low as well. Interest rates will slowly start to creep up. Don't put off until tomorrow what you can do today. Now is a great time to BUY!!

3. Buyers are not confident in the economy. Unemployment is high and even those who have jobs don't feel a sense of job security. The more insecure people are in making purchases, the slower the economy grows.  It's a catch 22. Another reason to BUY a home; to help jump start the economy!!

I think once consumers regain confidence and banks increase lending to those who qualify, buyer activity should pick up.  In the meantime, SELLERS be patient. Your home will sell, all you need is one buyer.

 

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Photo of Masha Halpern - Boutique Real Estate Real Estate
Masha Halpern - Boutique Real Estate
Keller Williams Realty
101 Cosgrove Avenue, Suite 200
Chapel Hill NC 27514
Direct 919-951-1780
Toll Free 877-478-4669
Fax: 919-928-9030




Masha Halpern of Keller Williams Realty provides real estate services in the Chapel Hill, Carrboro and Durham, North Carolina area including real estate services for buyer, sellers and those relocating to the surrounding areas of Apex, Bahama,Cary, Efland, Hillsborough, Holly Springs, Mebane, Raleigh, and Wake Forest. Search for homes in Chapel Hill, Carrboro, Durham or the surrounding communities.  Request a market analysis for your North Carolina property.  I list and sell residential real estate, investment property, vacant land, lots for sale in Chapel Hill, Carrboro and Durham, North Carolina area.

Chapel Hill, Carrboro and Durham, North Carolina real estate and homes for sale in North Carolina - Masha Halpern & The Smart Move Team