In the Current Market, Should You Wait or Buy Real Estate?
Thomas Riccardi
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With the news about bailouts, fannie mae going under and a worsening economy people are wondering if now is the perfect time to buy a home? I have to say with all honesty that the answer to this ques 
tion is not a cut and dry yes or no answer because it might depend on you and your finances and such.
First if you are well equipped to buy a home I would suggest that you start looking and don't look towards the real estate agents first. Your first stop should be the bank as a lot of banks have had homes that they have foreclosed on for months. Every month a bank holds onto a home and it is not taken over by someone else the bank loses money. There are some homes out there in various markets that the bank has held onto it five, six months and maybe even longer. This is one of the best ways to go ahead and get a great price on a home that the previous owners could not afford.
Another solution is government auctions and I say this because the government has also foreclosed many homes as well and they're also losing money on them and they are willing to make deals to get at least some of the costs back. Now the rumors that you've heard about getting a 500,000 home for 1500 is complete rubbish but there have been occurances where someone has gotten a 400,000 for 200,000 or even less. You need to know where these government auctions are taking place, show up early and look over the properties that you want to bid on even if there's a remote chance that you want this house.
If you're currently not set up to buy a house and you're still longing for one there's still hope. One thing I have taken stock in is government grants and there are countless websites that will either offer you information about this or will offer to write the grant for you. Most of these sites are complete rubbish I will say that right now as the only thing that they want is the money in their pockets (and most do not have a money back guarantee so buyer beware on this one). But there are free grant sites as well that will tell you how to apply and how to write up grants.
First if you are well equipped to buy a home I would suggest that you start looking and don't look towards the real estate agents first. Your first stop should be the bank as a lot of banks have had homes that they have foreclosed on for months. Every month a bank holds onto a home and it is not taken over by someone else the bank loses money. There are some homes out there in various markets that the bank has held onto it five, six months and maybe even longer. This is one of the best ways to go ahead and get a great price on a home that the previous owners could not afford.
Another solution is government auctions and I say this because the government has also foreclosed many homes as well and they're also losing money on them and they are willing to make deals to get at least some of the costs back. Now the rumors that you've heard about getting a 500,000 home for 1500 is complete rubbish but there have been occurances where someone has gotten a 400,000 for 200,000 or even less. You need to know where these government auctions are taking place, show up early and look over the properties that you want to bid on even if there's a remote chance that you want this house.
If you're currently not set up to buy a house and you're still longing for one there's still hope. One thing I have taken stock in is government grants and there are countless websites that will either offer you information about this or will offer to write the grant for you. Most of these sites are complete rubbish I will say that right now as the only thing that they want is the money in their pockets (and most do not have a money back guarantee so buyer beware on this one). But there are free grant sites as well that will tell you how to apply and how to write up grants.