As a home buyer you have a ton of choices when it comes to buying a home. Right now the Kansas City metro area has over 19,000 homes listed on the market for sale. Everything from single family homes, duplex, 1/2 duplex, condo's, lofts & more. But there is another choice that many buyers are faced with.
With the downturn in the economy we have seen home prices fall, foreclosures increase and with it comes a new set of choices for buyers. Do I look for the home that I like the best or do I look for the best deal? The best home & the best deal are rarely the same home.
If getting the best home possible is your goal, here are some points to think about.
- Do your research- learn about neighborhoods, schools, nearby ammenities
- View many homes and compare them closely
- Look at the details- age of furnace, roof, etc.. and compare to others
- Take your time- good things come to those that are patient.
If getting the best deal or an absolute steal is more important than here are some things to look for:
- Foreclosures- offer a good chance to purchase below market value
- Distressed sales- Divorce, relocation and other factors can force a sale below market value
- Pre-foreclosure short sales-
- Fixer's- low price & sweat equity = high upside potential.
There has never been a better time to be a buyer, you can find a great home, you can find a great deal and many times you can get both in the same house. Whether you are looking for a great house or a great deal I can't remember a better time to be a buyer.
Interest rates are low, the choice of homes is fantastic, deals are available and there is an $8000 tax rebate available for first time buyers.
Do you want to see some great homes? Click Here
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I'm amazed at how quickly good deals disappear in Johnson County. We can find them all day long it seems in Jackson but in Johnson it seem much harder.
Justin, thanks for stopping by. yeh the good HUD homes are gone in the first bid period and most foreclosures are absorbed in the first 30 days.
One of my Clients worked all last year with a buyer looking for the best deal, but each time they found the best deal, it wasn't the right home. They finally found one last December, a short sale, and it seems to be progressing smoothly.
I like the way you've stated this. It does a really good job of putting things into perspective.