Now is the time for action by would-be homebuyers

By Jerry Reeves

, Apr 16, 2009, Updated Oct 30, 2009

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Waiting for a “better deal?” Be careful. You can wait yourself right out of the opportunity of a lifetime.

These are challenging times for everyone. But concealed within these challenges are tremendous opportunities – if people have the wisdom to see them and the will and self-confidence to take action rather than sit on the sidelines.

Contrary to what you may have heard in the media, plenty of money is available for homebuyers, sometimes at astounding interest rates. This is a great opportunity for people to see what is on the market, study the price ranges, and discover what interest rates are available.

Beginning this weekend, April 18, and running for two weeks, the Home Builders Association of Metropolitan Portland (HBA) is sponsoring an event to showcase a wide range of new homes available for immediate move in. These run the gamut from nice family homes to the finest luxury homes.

Called The Ultimate Open House, this event features homes by many of the Northwest’s finest builders, in cities and neighborhoods throughout the metro area.

Why act now? While some are playing the waiting game – waiting to see if prices drop even further – others are seeing the handwriting on the wall and acting now to lock in quality homes at great interest rates.

The real estate market has always seen ebbs and flows in pricing. This is certainly the largest ebb in modern times, but it still follows the same pattern. This market is quick to adjust in value and pricing, and we have seen the largest adjustments we can expect.

While older, cheaper homes and rental properties may still fluctuate, quality new homes and particularly the high-end new luxury homes are far more stable. The low-end builders have slashed prices, gone into bankruptcy and had fire sales. But as is always the case, the cream still floats on the top. Premium homes have retained their value, and the finest builders have not declared bankruptcy, nor have they been forced to slash prices.

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