First-Time Home Buying in a Recovering Market

By
Real Estate Agent with F.C.TuckerEmge Realtors, LLC
 
Many eager first-time homebuyers were sidelined by the worldwide economic recession. It’s hard to commit to any decision – much less such a major one – when you read almost daily that the market is falling or downward pressure continues. Who needs any kind of pressure?

 

So it’s not surprising that, after such an exceptionally lengthy period of down or nearly flat economic expansion, the optimism that drives sales of all kind has been slow to reappear. But for the home buying public, and especially for first-timers, that hesitation could prove costly if, as it now seems likely, the market is entering its recovery phase. So just what does a ‘recovering market’ mean for today’s buyers?

 

The first sign will be a wakeup call: buyers will no longer find a market filled with purely bargain homes. Already, foreclosures and short sales are selling above the asking price in some areas, with multiple and all-cash offers beginning to reappear. Veteran observers in a few areas report that it even eerily begins to feel like the old pre-crash days. Published reports remain mixed, but as with the stock market, by the time you are reading headlines confirming a certain trend (i.e. “the bottom”), you’ve already missed it.

 

This is not to say that home buying is already a missed opportunity in the Evansville market. ‘Market recovery’ is a phrase that only signifies that movement and prices are on their way up. For today’s potential buyers, it does mean that it is time to get serious about investigating what is being offered -- what’s out there.

 

Financing remains an issue. Home buying candidates hoping to take advantage of the historically cheap loan programs may still be able to do so, but fees and insurance costs for the smaller down payment packages are on the rise. In any case, first-timers who encounter bank caution due to their inexperience with home buying will do well to seek help from an experienced real estate professional.

 

Every recovery is different, and the good news now is the presence of both the historically low interest rates and the survival – for the moment – of some bargain listing prices. Together they mean that regardless of any Evansville resident’s buyer status, most can wind up paying less for more.

 

By seeking expert advice, it’s possible to take advantage of the benefits our changing market has created. With the assistance of a great agent, you can arm yourself with that kind of market knowledge. Interested in learning what I can do for you during the home buying process in Southwest Indiana? Call me! You can reach me on my cell phone at 812-499-9234.

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Additional Information

About Me The Trentini Team of F.C. Tucker EMGE REALTORS® provides exceptional service to each of their clients as they help them to achieve their real estate goals. With their knowledge, experience and background, both Kathy and Rolando bring one-of-a-kind perspectives to the table during all of their real estate transactions. Their excellent communication skills combined with their passion for real estate allows The Trentini Team to follow through every time with the highest level of service possible. Rolando and Kathy are your premier Evansville and Newburgh, Indiana real estate source. They can help you buy your dream home or sell your current home for the best price possible. To learn more about what The Trentini Team can do you for you, contact us today!