CREST Team Blog

Is this a good time to buy? That depends. A better question would be “for whom is this a good time to buy?”   It is a difficult task to make a case for good buying climate without creating fairy tale expectations for potential buyers who are not yet in a position to buy.  As we have said in the past, buyers with a down payment, good credit, and pre-arranged financing, this can be a very good time to buy.  If any of those areas are lacking you may want to wait until you can confidently check off each item before you proceed.  It is unfortunate for many hopeful buyers but the reality is that we are in a period of careful and responsible lending by banks and mortgage companies.

There has always been a gap between what a seller wants to get and what a buyer wants to pay.  In declining markets that gap seems to widen. Sellers are clinging to the high end while buyers are looking for the incredible deal. The challenge for both parties’ is to know when they have arrived at the threshold that will seal the deal.  Many buyers feel that banks will short sell or sell repossessed homes for much less than they will actually take.  Keep in mind, if you were the owner of that bank you know the market will come back eventually.  Banks are just not going to slash prices and dwindle away assets. 

If you are in the market to buy and have the financial resources available you can find some good deals in this market.  For the month of June we have arranged our Web Site to provide a wealth of information and help for potential buyers.  If, after reviewing our Web Site, you have more questions we hope you will contact us. We will be happy to answer any additional questions or concerns.