Finding Bargains in a Weak Market

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Finding Bargains in a Weak Market

A weak market offers a buyer the chance to find the right home at an attractive price. While the availability of homes for sale - and the lack of buying competition - should make the effort easier for any buyer, there are a few things to consider to realize the maximum benefit.

Look in upscale communities that were previously out of your price range - you might be able to find something now.
Consider how long a property has been on the market when formulating your offer.
Get a mortgage pre-approval before shopping. Sellers in a weak market may take a bit less from a solid buyer.
Look for corporate-owned homes - properties that were bought from transferees by their companies and are being resold. These houses are generally priced to move, and in a weak market they may be very negotiable.

A home is a major investment, and buying during a weak market greatly increases the chance that it will be a good one.

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