There is no mistaking that we’re in a buyer’s market right now in almost any business sector.  To stay in business most people are re-evaluating their fees and or services.  Why should that be any different in the housing market?  Rick Wallace summarized the Malibu Real Estate market very well in his recent article in the Malibu Times (http://www.malibutimes.com/articles/2009/08/26/news/news6.txt), but I just wanted to add a few comments. 

Now is the time to be talking to a mortgage broker or lender! (If you don’t have one let me know) With the money markets being so tight, the only way you will be able to get the value you’re looking for in a home is that you must have all your ducks in a row and understand what it is going to take for YOU to buy a home.  I have heard so many stories about how long it took the most qualified buyer to get a loan and the percentage of a down payment that was required, that right now it doesn’t even make sense to go looking for a home without having all of the facts that are personalized to your situation.

Don’t Let Stories or Articles scare you from Looking!  If you’re thinking now is the time to consider becoming a home owner, you’re right.  The inventory is high and you will have lots of choices.  Also, prices have come down such that when you begin to do the number crunching it’s cheaper to own then rent.

When you make an offer, come in strong with the market facts!  Still many sellers believe their home is worth more than what the market will bear.  In order to help the seller along and have them understand today’s marketplace you have to spend some time educating them and letting them know that you are not trying to ‘rob’ them, you’re just offering “fair market value” for their home.

In summary, I have been lucky enough to have had several experiences over the last several months to represent both buyers and sellers in this market and what has brought these people together in the end was solid research, lots of data of the market where the home was located, and lots of negotiating.  So get your feet wet and start looking around!

As always, feel free to call me (310)924-4631 or email me janet@callmalibuhome.com, if you have any questions, I’d gladly talk to you in more detail about your specific needs.