Are you a first time homebuyer? If you are, you may be worried that this is not the right time to buy your first house; I mean, it is no secret that people are being foreclosed on and losing their homes left and right, and it is also no secret that we are in a rather bad economy right now. But now might just be the best time to buy a home for a lot of people, especially if you are a first time homebuyer.
First time homebuyers can have this as motivation: home prices are at an all-time low. That means that you can get a bargain price and much more house for the money than buyers were getting about seven or eight years ago when the real estate market was booming. It really is basic economics; there are more houses for sale than people who want or are able to buy them; therefore, supply is higher than demand and prices are low.
In addition to good prices, first time homebuyers can expect to have real estate professionals scrambling to get your business. Some are even offering incentives other than lower home prices. You may be able to negotiate a cruise, a car or truck, or some other compensation if you are willing to buy a house that has been on the market for a...
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