| Price pressures continue to strengthen the bargaining | | | | are buying with cash, this can also significantly |
| positions of buyers, while homeowners are feeling | | | | improve your position. |
| more desperate to sell, regardless of how many | | | | Closing Costs: |
| concessions they might have to make to close their | | | | If your seller assists with these it helps you qualify |
| deals. With more than half a million brand new homes | | | | for better mortgage terms while saving you some |
| languishing on the market unsold and a glut of | | | | serious out-of-pocket money. |
| existing homes that will take an estimated 8-9 | | | | Repairs: |
| months to sell, buyers have plenty of reasons to | | | | If sellers are eager, you can ask them to do |
| rejoice. | | | | necessary repairs before you buy. Or have them |
| Some buyers are waiting for even lower prices, but | | | | give you a cash allowance based on contractor bids, |
| they may lose out to tighter regulations in the | | | | and then do the work yourself. |
| mortgage lending market. If you're thinking of buying | | | | Leave-Behinds: |
| a home, it may be easier to get the mortgage you | | | | Moving appliances and furniture is expensive for |
| want now than it is in the near future. Government | | | | home sellers, and sometimes they will throw those |
| officials at every level are pushing for more stringent | | | | items in for free, so why not ask? |
| regulation of lenders, and the banking and mortgage | | | | There are also other ways to save money or get |
| industries themselves are already taking proactive | | | | extras when you sit down to negotiate. In bearish |
| steps to tighten purse strings because of so many | | | | real estate markets, homeowners became rather |
| losses suffered due to defaults and foreclosures. | | | | creative with off-the-wall miscellaneous perks. During |
| Meanwhile the economy is sending mixed signals and | | | | the past year, buyers in the USA have gotten free |
| the stock markets are jittery, which could signal | | | | trips to Europe, cases of vintage wine, automobiles, |
| bumpy roads ahead. If interest rates go higher or if | | | | boats, and other incentives. If you can think of a |
| the values of investment portfolios shrink, those who | | | | commodity to help close the transaction, mention it |
| are waiting to buy a home may find themselves | | | | to the seller and they might go for it. For example, if |
| paying more for their loans or they may even be | | | | you are buying your home from a member of the |
| completely disqualified. | | | | city symphony orchestra or the local basketball team, |
| Another factor to consider if you are sitting on the | | | | you might get free season tickets. Need a riding lawn |
| fence about buying is that the real estate market in | | | | mower and see one in the garage? Maybe your seller |
| the USA is normally a seasonal and cyclical affair. The | | | | is moving to a condo where they don't need to cut |
| busy season is in the springtime, and that is when | | | | the grass and they will be happy to toss it in to clinch |
| homes generally sell for the best prices. As summer | | | | the sale. Buying from a chef? Maybe he or she will |
| wears on, sellers often lower their expectations of a | | | | give you free meals at your new favorite restaurant |
| sale, along with their asking prices. Especially in regions | | | | in order to put the icing on the cake of the sales |
| of the country where heating bills are significant - in | | | | contract. |
| colder climates the cost of fuel to heat a home over | | | | Have your Realtor provide you with updated market |
| the winter can easily range in the thousands of | | | | info because prices, inventories, and values can |
| dollars - sellers can save money by selling before the | | | | change quickly. The median price of American homes |
| first frost. That means that those who are shopping | | | | edged up slightly this summer, for the first time in a |
| for a home have added leverage if they buy at the | | | | year. The up-tick may have been caused by people |
| end of the summer season. Just as buying a winter | | | | pulling their unsold houses off the market, but that |
| coat in the springtime can guarantee deep discounts, | | | | adds another incentive to buy now while the |
| buying a home at the end of the best selling season | | | | inventory is large and the prices are cheap. |
| can mean serious price breaks at the closing table. | | | | Don't expect to see writing on the wall when the |
| When negotiating the sale, here are some places to | | | | tide turns. By the time it becomes obvious to |
| ask for wiggle room from sellers: | | | | everyone that the buyer's market is over, it will be |
| The Price: | | | | too late to find the outstanding bargains. If you want |
| To be taken seriously, don't lowball the seller but | | | | a home, don't deny yourself the pleasure just to |
| offer a price that is within five percent of the asking | | | | save a few bucks. |
| price. If you're pre-approved for your mortgage or | | | | |