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Wednesday, April 12, 2006

Is this a Great time to Buy a House?

While at first glance it appears that Homebuyers have a wide open field day shopping for a new home. But step back a moment and look at home prices. Are they really such a great deal. Yes it is true that prices have and are coming down in many areas and sellers are looking for offers (sometimes any type!) The buyer needs to look at the home and the cost and realize there has been extreme increases in the last few years and a lot of it was due to Investor frenzy to put their money where they could make a huge return. Housing increases have not been as in past years due to cost of material, labor etc. Yes it is true a lot of increases have been due to these cost but most of the big jump in prices have been from the Investors flipping and profit taking.That is a artificial cost increase and that is what you are seeing now deflating and bringing home prices down. Building cost and labor cost are still going up as everything does but the Investor price jumps are going away as the investors are backing off on their buying because of all of the homes coming on the market. So step back and look at what the home cost two years ago and maybe, just maybe that may be the "real" value of the home. Do not think you are making a real low offer to the seller. It might just be much more realistic than you know. You may get the right home and the right price and of course the right rate (if you read our information and gain the knowledge) this Spring! You might gain some knowledge if you are building your own home with the link shown here. http://www.homebuildingpitfalls.com/affiliate/affiliate.php?id=9

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