Monday, July 5, 2010

Buyers Market in Victoria!!

"I think I'll wait until the market gets better to buy." Its a statement I am hearing more of these days. We in Victoria, while enjoying a better-than-national-average real estate market, are currently experiencing higher inventory levels and slower sales than we've seen in over a year. These conditions just happen to be coinciding with low-low interest rates. What does this all mean? It means that this is an amazing time to be a buyer! Sure the argument is that prices may go down as a result of this slow down, but that may also coincide with increased interest rates that would negate any price savings.
Right now on the front lines I am seeing the opportunity to negotiate reduced prices (in some cases substantially reduced) for qualified buyers. So...lots of selection, low rates, and motivated sellers without those pesky bidding wars.....I say get out there people!!