Home Buyers: Making the Best of a Failing Housing Market

There is no questioning the fact that the real estate market is in heavy turmoil. The current financial crisis has home foreclosures on the rise and more and more homeowners scrambling to get from under hefty mortgages for houses that they bought during the real estate bubble. While it is a pretty grim situation for most, it is a season of opportunity for those home buyers that are in the market right now. With more and more people looking to sell houses fast, savvy investors can pick up prime properties on the cheap with a little research and some good old fashioned patience.

If there is one thing that most homeowners looking to sell their homes in a hurry do not have it is time. Many are struggling to make ends meet and hoping for a short sale. With the average time that a house is languishing on the market spiking as high as 2 years in some markets, serious home buyers with cash offers are seldom turned away. Many troubled homeowners are even turning to companies that purchase and then flip rundown homes to help ease their financial burden. Though these outlets might not allow them to clear as much as they perhaps had hoped to someday get out of their home, what they do allow them is the chance to make a clean break from a property that was otherwise suffocating them financially.

It is not just the short on cash that are hoping for a fast sale though. Even stable homeowners that are just hoping to upgrade their home or downsize after the kids go off to school are anxious to sell their homes quickly. A smart home buyer can watch the listings and see when a house has been sitting on the market for a while. The longer that home has been listed, the more likely that homeowner is to be willing to negotiate a deal with you. The more houses that are for sale in their area the more leverage you have for bargaining as well.

Whether you are in the market to buy a home of your own, are looking to purchase rental properties or are just interested in flipping houses, the current housing market is a great place for real estate investors. Homeowners are on the lookout for ways to sell houses fast and are much more willing to be flexible about their price. This leaves you, the investor in a great position to make the best deal for your wallet.