In the current market with prices and interest rates at an all time low, I am finding more and more buyers that are unrealtistic about what they can get for the amount that they want to spend. The only source that I can attribute this to, would have to be the feds and the media…..giving people a false promise of grabbing up a default or REO property for an incredible price. My intent is not to discuss short sales or REO’s – but to caution buyers about waiting for the perfect house in the best location and losing out on this great window of opportunity.

It’s very simple people. If you want a great location, you are not going to be able to buy the “perfect” home. The kitchen might need updating, the hardwood floors may need to be refinished, the floor plan might not be ideal, etc. – but even in the best of neighborhoods, the “deals” are priced accordingly. And if you want that little halfplex for under $150,000 in one of the most desitrable locations in the city – it’s not going to happen!!!! You’re qualified for $180,000 – pay the market value and get over it! In a few years when the market turns around, you will have instant equity and be glad you didn’t settle for easy street!