Real estate is local. What is happening in Florida is a lot different from what is happening in Chester County, Pennsylvania. Real estate conditions vary by market. Although the national news would lead you to believe the real estate market is bad all over...fact is in some areas the real estate market is just fine.
In Chester County, Pennsylvania and surrounding areas we have seen a little bit of a slow down. Actually that is good. Gone are the frantic days of submitting offers hours after showing the property, gone are the days of submitting bids higher than the asking price, gone are the days of higher counter offers on top of counter offers and waiting by the phone for a decision.
Now, it is a buyers' market!
Interest rates are still at historic lows, there are plenty of homes on the market and sellers are offering incentives to buyers....it is a great time to buy a home. I tell my buyers to ignore the asking price when I show homes, use the asking price as a starting point only and go lower from there. It is a buyers' market for sure.
Again, real estate is local. Your market may be different, maybe better, maybe worse. Ask your local real estate agent about the conditions in your market. Are you in a buyers' market? Are you thinking of buying a home? What are you waiting for?
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