“Lets Talk Real Estate!” RECESSION HOME BUYING” May1st, 2024


Many buyers are hesitant about making a substantial financial commitment when the economy is on shaky grounds.  However, buying a home during a recession isn’t necessarily a bad idea, even though recessions can be devastating to the real estate industry.  Buying a house during a recession, the number of foreclosures or owners who have to sell increases, leading to more available homes.  Also, houses tend to sit on the market longer, causing sellers to lower their listing prices.  Keep in mind that banks are less likely to lend money during a recession out of fear they will have to foreclose on a home, which is a lengthy process.

Timing is important.  It is the right time to buy a new house?  Would it be better to wait to sell?  Should you take that step and invest in your future, or perhaps down-size to something more manageable?  When it’s time to make a real estate decision, it’s time to call us, because, no matter the market position, a dedicated real estate agent can mean the difference between a house lingering on the market and one that sells quickly a a good price.  “OUR SUCCESS HAS BEEN BUILT ONE SATISIFIED CUSTOMER AT A TIME.”

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