Spring Update - Fear Driven

Spring is not quite here weather-wise, but it's beginning to feel like spring in the real estate business. Loads of properties are being introduced to the market every day and the phones are ringing as buyers realize that opportunity is knocking louder than it has in a very long time. The current combination of large inventories, low interest rates and general gloomy news about the economy has produced potentially the best time to purchase a new home ever.

Happily the Upper Valley has not suffered the flood of foreclosures and bank owned properties as a lot of other areas in the country, but there are certainly some value priced bank owned properties out there if you are handy and have enough patience to see the process through to the end. On the happier side of the market, real estate prices in general are at historic lows for this area and even though sellers might be getting as much as they want for their properties, they still want to sell and deals are being made.

Mortgages are being written, rates and prices are low, selection is great. What's holding people back??

FEAR!

Fear of being unemployed, fear that the market might continue lower and the very last nickel might be left on the table, fear that something better might show up on the market later and on and on. Some of these fears are justified, but missing an opportunity to find and purchase the home of your dreams at a discounted price should be the fear that gets the most consideration.


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