FIRST TIME HOMEBUYERS WHO IS THE BOSS

This information isn't just for first time homebuyers, the information is for anyone that is interested in purchasing real estate in today's market. Because we are in what is considered to be a buyers market which is the opposite of a sellers market which we had experienced from 2003 to end 2006. In a buyers market you as the buyer get to set the price. The reason for that is because properties are not moving as fast and due to what newcomes in the lender business called creative financing which in the financial world is call fraud when a person purchases a property that their income was increased to qualify for the financing. Therefore there are lots of properties available today, because the banks had to foreclosure/repo the property because the borrower was not able to afford the payment any longer due to the loan changing. As a buyer you can set the price you want to pay for a property. If the property has not been sold in 60 to 120 days with little or no offers they may take your offer, so do not be afraid of making a reasonable offer on any property you make be surprised. (note:your realtor will be paid by the bank so always hire a realtor with experience working foreclosures).