We are witnessing some great opportunities in the New Bern real estate market, that have not been seen for years! If you are one of those buyers who are "sitting on the fence", it's time to cross over and accomplish your goal. Why now?
- Mortgage Rates are near all-time LOWS! One lender just quoted 5% for a 30-year fixed rate loan. Yes, rates may trend lower, but there's no guarantee for how long.
- Large Inventory to Choose from! Our New Bern market has nearly 3x the inventory that we had a few years ago, so there's a great selection, and buyers are in a better position now to negotiate their best terms. As soon as the inventory starts to decline, negotiations will be more favorable to sellers.
- Inspections: This is the time when sellers are more willing to negotiate for repairs or offer financial concessions for inspection items. When the market turns, there will be many more sellers who will not be as liberal with concessions. Why? There will be less inventory, and more buyers who are interested in their property.
- Time of Year: Many sellers believe that activity falls over the holidays and winter season, so now is the time for "serious buyers" to act, to get their best terms!
- Tax Credit, $7,500 for First-Time Buyers! ( See our prior post on this tax credit). Buyers have until June 30, 2009 to close on a property and take advantage of this incentive. Yes, it is an interest free loan but how often does that ever happen ?
No one has a "Crystal ball" to time the exact bottom of the market (wish we did!). However, I know from over 30 years of real experience that when the market turns around, it's generally quick, and buyers only recognize it as they chase the market back up!
View ALL New Bern Listings here! Or, contact our team for more information on how we can help YOU achieve your goals!
Wishing you all a Happy Holiday season and a wonderful New Year!
Sincerely, Dianne and Team
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