mattzimm's blog

I keep talking with folks from other blogs and networking sites and one topic seems to be prominent in every conversation when discussing real estate!  "The market is just terrible!"  I hear that all the time when I tell people what I do for a living, or if the topic of Real Estate comes up.  That's when they get the shock of their life when I tell them that this is one of the best markets we've had in a long time!  I know what you are thinking...I've lost my marbles!  No I have not lost my marbles..I know exactly where they are.  Let me explain.People perceive the current market as a being bad because the value of their home or investment may have taken a dive over the past 12 months or so, or because they have been trying to sell their home for six months and guess what...no offers.  You see sellers have been accustomed over the past couple of years of basically getting what they ask for their home.  They are used to not offering incentives to buyers and in some cases choosing which offer they like the best.  Those times are over people!!  It is now a buyers market.  Nobody complained about the real estate market when homes were selling in hours not months and home values were skyrocketing upward in some cases 20% per year.  You see in those days buyers had to scramble to find the right house and make snap decisions or they lost the property.  They were forced to pay asking price or above asking price for those homes.  Those days are over as well.  It is now a buyers market.  So the market is fantastic based on a buyers perspective.  Home values have dropped, Government Guaranteed and Insured Loans, (FHA, VA) loan limits have increased, interest rates are still extremely favorable.  In addition the amount of inventory for sale has skyrocketed giving the buyer lots to choose from.  It is a lot of fun to be a buyer right now.