Tax credit has ended, now what?

Although the tax credit deadline has passed and many have taken advantage of it, there are still thousands of great deals out there for homebuyers. Don't be discouraged about losing the credit. Foreclosure properties are numerous, providing a great number of properties that are a great value and non-REO home prices have begun to stabilize providing great competition for the foreclosure market.

Home sellers are also starting to realize that lowering prices to meet market conditions is the way to go. For some that leaves a short sale situation that can be guided by a qulaified Realtor and the lender. For others that simply need to sell, some profit can still be made.

I encourage home buyers to consider non-REO (private) sellers as well as foreclosures. A private home seller is usually more flexible and cooperative than many of the banks. Why not open yourself to purchasing a property where the property condition IS disclosed, repairs can be negotiated easier.