Good News Friday Podcast
Week 6
January 25, 2008
Part 4 of a 4 Part Series on "Who Is Happy In Today's Real Estate Market"
(6 Min. and 1 Sec.)
(Click The Play Button Above To Listen To The Podcast.)
Hello and Welcome to Good News Friday! Today is Friday January 25th 2008. My name is Bruce Karasik. Each week we bring you good news and positive developments in the Real Estate Market, Mortgage Market, in our economy and our country. In future shows, you will be hearing interviews with key people in the industry from real estate and mortgage experts to economists and other well known business leaders. In every Real Estate market, there are always those groups of people who find a way to benefit, thrive and prosper. No matter if Real Estate is up or down, or if interest rates are up or down, they act in way that is of benefit to them.
Last week in Part 3 of our 4 part series on who is happy in today’s Real Estate Market we talked about the golden opportunity to refinance your home right now. If you have not already done so, I invite you to go to www.GoodNewsFriday.com and listen. In fact, if you miss any podcast, we have archived all or our past shows so you can listen to them at any time. Today, in part 4 of our 4 part series I will talk you today about another happy group. This group is first time home buyers. Why are these First Time Home Buyers so happy in today’s market?
First is Selection and Availability. During the Real Estate Boom, home buyers had to act fast. Homes would sell in a matter of hours or days. Inventory was low and finding the right home was only the beginning. Then the fastest fax machine often times got the deal. Today buyers have more homes to choose from than in recent years. First time Buyers can be more selective and get more of what they want. It is like shopping in a store that sells multiple brands. If you don’t like brand X, you have many other brands to choose from. There are an abundance of homes on the market.
Second, First Time Home Buyers are so happy because of the Low interest Rates. Rates are the lowest in 2 years and the banks are lending and this translates into lower monthly payments.
Another reason that First Time Home Buyers are so happy are Grants And An Abundance Of Loan Programs. Many first time home buyers can get grants from the state or their local areas that never have to be paid back. Some of these programs make it possible to buy your first home with nothing down. Other people who do not qualify for these grants still have an abundance of loan programs with to fit their individual needs.
The last reason I want to give you today that First Time Home Buyers are so happy are Lower Prices and Flexible Sellers. Since prices are down that means lower payments and a greater chance to build equity over time. It means there is room for you to have your agent negotiate a lower price and better terms in your contract. Sellers are paying closing costs and providing many different incentives to attract buyers. During the Boom, Sellers were in charge and they knew it. Now buyers have much more opportunity to have their agent negotiate and win. Negotiating Skills are essential in today’s market. And smart buyers are taking advantage of these benefits.
Put this all together, Selection and Availability, Low Interest Rates, Grants and an abundance of loan programs, Lower Prices and Flexible Sellers, makes this an amazing time for First Time Home Buyers and that is why they are so happy. In an economy where any of these things can change at any time, it is very important to find out as First Time Home Buyers whether this is the right time for you. But the key to success again is having the right advisors and consultants in place so you can have the right strategy. As your trusted Real Estate consultants and advisors, we at the Karasik Team work in our unique ability. My unique ability is consulting, negotiating and overseeing the transaction details. We take a customized approach and enable our clients to make informed decisions to accumulate wealth through Real Estate. In addition, we at Karasik and Associates Mortgage Consultants, can help you come up with a strategy to determine whether this is the right time for you to buy your first home.
We continue to believe that homeownership will remain to be the best avenue for American families to secure their financial future. I look forward our continuing dialog and we invite your feedback. Please feel free to email me at Bruce@TheKarasikTeam.com,
So we do have some good news to be grateful for. And so, my friends, I wish you and your families a Happy, Healthy, and prosperous week. And that’s it for now. I’ll see you back here next week for another episode of Good News Friday
