I meet people on a daily basis selling Lake Greenwood Real Estate and when I’m asked for my opinion of the current market I always say “we are at the bottom and it’s not going to get much better for buyers”. Many times I realize I’m standing in front of Thomas. I’m sure you’ve met him before. “Doubting Thomas” as he says “noooo, we still haven’t hit the bottom yet”. At this point, I begin to wonder “is it my optimism that just won’t let me see it?”

Needless to say it brings me joy when I see something that supports my scrutinized optimism and can hardly wait to share it with whoever happens to see it. SO, here is more Greenwood Real Estate news and statistics worth sharing! We all know that interest rates and home prices are at the lowest they’ve been in quite a while. Well, a recent article in Bloomberg Businessweek refers to it as “perhaps the best deals of a generation,”. OK…I want to repeat that because it felt so good to say….THE BEST DEALS OF A GENERATION! A GENERATION! Many buyers are aware of this and have taken advantage of the current buyers market. For those who are STILL on the fence and have been for the past year or more, I have to ask, how much better does it need to get.

Since the housing boom of 2006, home prices have fallen about 31 percent. Also, rates have been hovering at record lows for the past few weeks. “It’s hard to see the possibility of losing on a home purchase right now, with these rates,” says economist Dean Baker. “Prices may go lower, but not by much.” The article notes the following scenario: Buying a $300,000 home with a 4 percent rate and a 20 percent down payment would mean a $1,145 monthly payment. The Mortgage Bankers Association recently predicted that home prices may fall another 3.5 percent by mid-2012 but rates will increase by atleast a half-point. So for that same loan under that scenario, a home would sell for $289,000 while the monthly payment would be $1,171– a $26 per month increase. For those who can qualify for a home loan , 'playing the waiting game' won’t result in much gain, Nariman Behravesh, chief economist at IHS in Englewood, Colo., told Bloomberg Businessweek. It seems to me the wait may not be worth it, especially if it means losing the home of your dreams while waiting for a significant savings. 

So, hats off to optimism and even better when there are cold, hard facts supporting it! If you are looking for property for sale on Lake Greenwood or Greenwood real estate in general, even if it is not lakefront it is a GREAT time to buy. I’ll be more than happy to show you whatever you want to see and provide the information you need to make an informed decision. If building is a possibility now is the time to take the first step with Lake Greenwood lots being incredibly low with room for further negotiating. Having the right realtor on your side to answer your questions and point you in the right direction can make building your dream home an enjoyable experience.

Make sure to check out my newest mapping feature to learn more about Lake Greenwood and its many nooks, crannies, twists and turns and the communities tucked away in each! Then contact me for the answers to your questions and let's start making YOUR dreams come true!