Buying Power

[flip_it_fast]

I just read an article on the housing market and buying power. It is a buyers market with house prices falling everyday. How much power does that give a potential buyer though?

Well that depends on several things, location, who's selling, the type of house and so on.

In the article a man just bought a house by low balling. Thats typically not recommended. But he thought if he got the house great and if he didn't then he would move on. He put in an offer $40,000 less than the asking price and the offer was accepted. The people had been trying to sell for thirty days and they just wanted to be done with it.

If home sales are sluggish in the area then go in on the low end. It's worth a shot and if they refuse than you can always go a little higher.

Things are much different in the housing market than they were just a few years ago. You have more options now, a little more power.

[JaredfromIndiana]

Originally Posted by flip_it_fast

I just read an article on the housing market and buying power. It is a buyers market with house prices falling everyday. How much power does that give a potential buyer though?

Well that depends on several things, location, who's selling, the type of house and so on.

In the article a man just bought a house by low balling. Thats typically not recommended. But he thought if he got the house great and if he didn't then he would move on. He put in an offer $40,000 less than the asking price and the offer was accepted. The people had been trying to sell for thirty days and they just wanted to be done with it.

If home sales are sluggish in the area then go in on the low end. It's worth a shot and if they refuse than you can always go a little higher.

Things are much different in the housing market than they were just a few years ago. You have more options now, a little more power.

Things never really got that bad in our market here in Fort Wayne. Home prices are down over all, but not as bad here as they are in Florida, California, etc.

[flippinout]

I am glad to hear that things arent as bad for your part of our country as it is in other states. And hopefully real estate in Fort Wayne will continue to prosper.

Some states have really been hit hard by the market and there doesnt look to be any real relief for them any time soon.

Surely the powers that be could do something more to ease our economy. Or is it that they choose not to?

[flip_it_fast]

I'll opt for the second one. They choose not to help.

We will make sure that everyone in Japan has a home to live in while our own live in the streets. Please don't take that the wrong way. I'm not saying that the people of Japan don't need or deserve help but when do we help our own?

I'm also glad Jared that things are still good your way. I wish that was the case all over.