The time has come for all the buyers that have been waiting for the bottom of the market. Sales are up again this month so if you have been waiting, your time is here. The window of opportunity is getting smaller but don’t take my word for it. Have your Realtor take you out and tour some of the bank owned homes currently on the market. If you find one that you really like, make an offer. If the home is priced low and is in good condition, my guess is that it will have multiple offers. What does this tell you? Do you think that prices will continue to drop if the homes on the market now are getting multiple offers? Isn’t one of the main things in Real Estate that drives the prices is supply and demand? The demand is increasing and the supply is still good but not for long. We specialize in working with buyers so we hope the supply of bank foreclosures stays high for as long as possible. The clients that are buying now are telling us that they don’t want to get left in the dust. As the new stimulus package gets plugged in, many of the home owners will be able to keep their homes and not go into foreclosure. This will be good for the economy and will help stabilize the housing market. There really is a tremendous opportunity for buyers to purchase a home at prices that you may never see again. As the banks start to loan money again, interest rates will probably go up. All things considered, it’s time to step up because the train is leaving the station. Here are a few tips that may help.

• The writing is on the wall. Sales prices will start to climb shortly.
• Las Vegas will be one of the first markets to recover. It already is.
• If you have cash, you will have more bargaining power with the banks.
• If you can qualify for an FHA loan, get this loan.
• If you are a veteran, a VA loan is also an excellent value.
• Greed kills offers getting accepted. Be realistic, it has to be a good deal for all.
• If your cash on hand is low, have all closing costs included in your offer.
• Make sure your offer is contingent on appraisal.