Many factors are contributing the low prices of homes, but all that really matters is that if you are a buyer now is the time to buy. Whether you are buying a home in St. Paul, Roseville, Shoreview or anywhere, the price is right.
There are deals out there. Nowadays, it’s not a common site to see banks heavily discount foreclosed homes to increase activity to properties. The banks will price a property at $50000 knowing that a property is worth much more, and receive multiple offers. Sometimes this backfires on the banks and they might not receive a higher sale price, but this will ensure a quick sale of their property. Also Short sales are abundant, and if you have the time to wait for a short sale you can purchase a home 15-25 percent below tax assessed value.
The low prices are sparking many buyers and investors into a buying frenzy. We are now seeing more and more, multiple offers on properties. Many people don’t want to be in multiple offer situations but if you really like a home and feel that it is worth a certain value, why not submit an offer. There are only three answers you can get: Accepted offer, counter-offer, or rejection of offer. There’s no harm in it, so get out there and buy your home today before it’s too late.
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