Homebuyers Are Finding Good Deals

When searching for a house prospective buyers should be aware that the market is

making a comeback and that while they retain some bargaining power there is often little if any room for negotiation over the listing price of the house. As the real estate crisis spread across the nation in 2009 and affected every community homebuyers that were able to take advantage of the depressed market and picked up property that was marked well below the previous years appraised values of the development.

As a result listings that were owned by a bank or subject to a short sale were priced very reasonably, but left no wriggle room for buyers to haggle over. In fact, as multiple offers were presented to the seller, Des Moines real estate agents were asked to submit their highest and best offer for the residences that had competing bids on them.

Over the past few months there has been a rise in the value of homes, which has not matched the prior appraisals that were on record before the collapse, but still show more equity for the seller. While homebuyers are able to take advantage of Des Moines homes for sale that are considered a good buy, they still have to recognize that the seller vacating the home may not be in a financial position to knock off any money from the asking price of their former abode. Because the national economy is still in recovery interest rates have been low and have dipped to all time lowest points even with the number of sales in the housing market steadily on the rise.

While there has been a shift in the amount of resale properties that have been sold, there appears to be a greater number of new construction developments that have contributed to the rise in overall mortgage loan applications throughout the country. Part of the excitement for moving into a brand new house has been the government sponsored stimulus to buyers that had not been named on the title of a property for the previous three years. Considered to be fresh to the prospect of owning land and having never had a mortgage before, a number of these first timers bought housing in neighborhoods where builders were putting up buildings as they were ordered.

In reality both unlived in and long standing domiciles were eligible for the tax credit that was so popular throughout 2009 and the first quarter of 2010. For the homebuyers that are now entering the competitively priced dwelling in established neighborhoods the mortgage rates are still very good even though the attached values of the Des Moines homes are once more starting to slowly climb.

by: Art Gib

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