Well, in many ways purchasing housing in Allen Park, MI is much like purchasing shares of a company listed on the stock exchange. Buy low and sell high. However, we are currently in a market that on one side is very discomforting because the cause has hurt a lot of good people. I’ll leave to others as to when the job market is going to return to Allen Park, but for those who still have a job, today’s market presents an opportunity for home buyers that is rarely seen. Take for instance the new buyer or first time home buyer. Interest rates are, to use an overused term, at historically low rates. Couple this with 30 to 40% reductions in asking prices…what more can an Allen Park home buyer ask for.

In the past when Allen Park inventories were low and home buyers were in great supply, buyers had no opportunity to negotiate their best offer. If they did not match the seller’s terms then someone else would. Today however, inventories are high and good qualified home buyer’s are in short supply. Hence, it is a buyer’s market and buyer’s can not only negotiate price but also terms and in many cases financial concessions within the limits of the mortgage they are applying for. Right now today Allen Park has 193 active listings for sale…what a great time to buy your first house. The most important thing is do your home work and work with the agent you feel is most qualified to guide you through the process.

Posted on Thursday, January 15th, 2009 at 5:05 pm and is filed under Home Buyers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.