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Written by Miranda Hinchman 03/17/09
The real estate market has taken a huge hit in the last year or so; however now is the right time to purchase a home if you can. There are many great deals out there because there is a huge inventory of homes for sale and very few buyers. You can work with your local real estate agent to negotiate the price and get a great deal.
There are also huge deals on foreclosed homes. In this instance, the bank that holds the mortgage is willing to sell the foreclosed property as fast as possible because they want to recoup their losses. This means that as long as the bank gets what they are owed then they are all set; some foreclosed homes have even sold at a few hundred or thousand dollars. How is that for a bargain?
In order to help get the housing market back on track so that home values increase we all need to invest in real estate to bring money back to the market. Hopefully, by the end of 2009 there will be fewer foreclosures and more people getting their first home or a new home.
