Across the nation homes are piling up on the market because sales have slowed dramatically in the past year. Well folks, what that means is, it is now officially a “Buyer’s Market”. There is in excess of 6 months’ inventory nationally, which is the typical indicator of a marketplace in which the buyer is in control of the transaction. Not only that, but the average marketing time (days on the market) for homes and condos is 121 days, nationally.

What does all this mean?

Well, if you have decided to sell your home, it is more important than ever to employ the assistance of a top notch REALTOR® whose career is doing just that. You should rely on a referral from a trusted friend or family member, or myself. Do not take a shot in the dark, you might be very sorry. In addition to a solid and professional marketing strategy, it will be crucial to price your home right (i.e. realistically), be prepared to lower your price and/or offer concessions for closing costs, and be prepared to weather a long marketing time.

However, on the flip-side, if you are thinking of buying a home, your timing couldn’t be better! Just apply the guidelines above for sellers in reverse. You should find that negotiating has returned to the scene. Seller concessions for settlement charges are commonplace. Rates are still at historically low levels. The basics, however, remain the same. Prospective home buyers must focus on job stability, reducing debt, increasing rate of savings and protecting credit. So, if you are house hunting, go for it full force. Your timing is perfect! And, don’t even think of doing so without the assistance of a highly qualified REALTOR®. If you don’t know one, ask me for a referral.

Please don’t hesitate to contact me at any time if you have any questions or concerns! I offer an array of first home buyer programs, including 0% down.

Robert Kalugo
Mortgage Advisor
Toll free (888) 848 OPEN 
Fax: 603-887-6701
Cell: 978-869-2873
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I specialize in residential,commercial and business financing.

Openlend North America, LLC was selected as a Finalist for the 2006 New Hampshire
Better Business Bureau Touch Award for Marketplace Ethics!

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Licensed by the NH Banking Department MA License #MB3574, ME License #CSO7372 In Massachusetts we arrange loans but do not make loans