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Top 5 reasons why now is an exellent time to buy a home
PUBLISHED 17 OCT 2007
The prime lending rate is up to 14% from 10.5% 18 months ago. We are now in a full blown “buyer’s market” – Now is the time to buy

 

 

1. Selection, selection, selection.
 
There are more than 2000 resale homes on the market on MLS Westrand. Regardless of the price range a buyer desires, there are plenty of houses from which to choose. There is a great selection of houses, clusters, and townhouses. You can find exactly what you are looking for!

2.  No Bidding Wars.

In 2005 we had multiple offers on the same property on the day it came onto the market. There is no competitive bidding in this buyer's market.

3. You can make an offer.
 
A few years ago when you made an offer, the only question was whther or not to go a few thousand above the listing price in the hopes of being the best offer on the table. Today, according to FNB’s Property Barometer more than 70% of sellers settle for an offer lower than the asking price. A seller will not be insulted if you 'make them an offer they can't refuse'.

4. Patience is tolerated.
 
In the hot seller's market that existed everything was rushed. Find a house before other buyers did. Hurry up and make the offer.  Today a buyer can take their time. Look at several homes and think about your decision for a few hours.

5. Few, if any investors.

According to FNB’s Property Barometer almost 30% of properties sold in 2004 was to ‘buy to let’ investors. These non-owner occupied buyers caused the market to inflate and affordability to decline. Now is a great time to buy without having to compete with hundreds of prospective landlords.

 


Ask any property professional what type of market we are in and they will tell you: “It’s a buyers market!”.  Now is the time to buy!  Give your real estate agent a call today and move to your dream home tomorrow......

 

 

 

Gideon Brits

Director / Principal

B.Comm (law), CEA

 

082 471 6337

gideon@protego.co.za

 

 

 






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