Who is the winner in today’s real estate market?

November 6, 2008 · Dean Rizzi

The First Time Buyer….

They are buying homes today that don’t have inflated equity…
They don’t have to wait for their home to sell…
They have sellers willing to pay their closing costs and buy-down already good interest rates…
They are in the first “Buyers” Market in nearly 8 years…
They have the largest selection of homes in 15 years…
The current down turn in pricing will allow them to buy homes in neighborhoods that were out of their reach 2 years ago…
They can get that extra bedroom or bath or garage…
They can still buy a home with 3% down, a job, and reasonable (not perfect) credit through FHA…
FHA loan limits are higher than ever…. $729k
If rates go dramatically lower…FHA has a streamlined refinance program that doesn’t require re-qualification of the buyer…
If they buy before July 9, 2009 they are eligible for a $7500 tax credit…
If they buy before Dec 31, 2008 they will get that back with their 2008 return.

This is a life changing opportunity for these buyers…

Taken from a marketing piece from Jennifer Sheldon

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3 Responses to “Who is the winner in today’s real estate market?”

KC on November 6th, 2008 9:49 pm

I LOVE this post! I hope tons of people read it and call us! I have been showing and selling MANY homes in the Pittburg, Antioch, Hercules, Pinole, and Richmond areas and its just BOOMING over there with great and exciting deals! I can’t believe a buyer’s market is finally here! YAY!!!!! OH! I forgot to mention the deals on the Peninsula and San Francisco! $300,000 for a home in San Bruno? Thank you!
Nicole on November 7th, 2008 3:06 pm

I completely agree with your post. First time home buyers should really take advantage of the market and for the most part I believe they are.
Adam Chinn on November 17th, 2008 5:56 pm

Great post Dean. I am talking to my friends that are “waiting” for the market. I hope they do realize that now is a great time to buy and like you, I think it would be a life changing opportunity for them.