The eternal question in response to any market volatility be it up or down, in stocks or real estate is a simple one: How does this affect me? In housing it depends, of course, on which rung of the real estate ladder you occupy.
Buyers: Maximizing The Advantage
1.With the number of homes on the market up 19% from a year ago, buyers (finally) hold the best cards. To play them, start entertaining all the offers homebuilders and real estate agents are hurling your way. How about a finished basement? Or having the seller pay your closing costs? The downturn has yielded less obvious opportunities too. John Mead, a teacher in Calhoun, Ga., paid $120,000 for the three-bedroom house he found on Foreclosure.com a solid $40,000 less than similar offers he was considering from people not as desperate to sell. (Don't feel guilty...
