Now Could Be The Best Time To Buy Alexandria Home

The old adage Theres no time like the present might not first come to mind when looking at todays national housing market

. But according to Alex Pachedzhiev of the Realty USA Team, these homespun words of wisdom are quite appropriate when a closer look is given to individual local markets across the country.

Alex points out these favorable factors that can contribute to making this, for many consumers, a most opportune time to buy a home:

1. Inventory is up. When the market is hot, new listings cant replenish the supply of homes fast enough, and that works in the sellers favor. In todays market, the opposite is true, providing more choices for buyers.

2. Sellers are motivated. Homes that in a hot market would have been snapped up in days are now lingering unsold for weeks, even months. Factor in bank-owned properties due to the recent and unfortunate spike in foreclosures and buyers find themselves in an advantageous negotiating position they havent enjoyed for years.

3. Interest rates are down. Recent cuts in the prime rate by the Federal Reserve have sparked drops in interest rates, which as of today January 5th, 2011 are at 4.75 percent for a 30-year fixed-rate mortgage. While banks have tightened lending requirements in the wake of increased loan defaults, homebuyers with few credit problems, qualifying to purchase a home they can afford, should still have little trouble securing favorable financing terms. Whats more, a market climate like this especially favors buyers who dont need to sell an existing property before their purchase, buyers like first-timers and those looking for a second home. This tilts the scale even more towards many buyers.

But regardless of the situation, for every buyer, the key is to work with a real estate professional that knows the local market and specializes in buyer representation like an agent who has earned the Accredited Buyers Representative (ABR) designation. To read more on the topic please visit http://bestplaceforrealestate.com

At last, but not less important, home buyers must have an access to constantly updated home search platform. This unique virtual mall will notify them of Bank Owned Properties(REOs) that are not publicly available yet and in this way put them in front of the competition.

You can access your personalized list of foreclosures at http://alexandriarealestatemarket.com

by: Alex Pachedzhiev

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