Lake County Real Estate Blog

It can be a confusing time for buyers. I hear people asking all the time, Is it a good time to buy? Should I wait? Are we there yet? Well, I heard an interesting observation the other day that I wanted to share with you. It goes something like this:

With interest rates so low, so much inventory to choose from, and sellers who are willing to negotiate, prudent buyers are snapping up great deals. For those who wait, the market will only get better for sellers because this buyers market will not last forever. I think it makes good sense.

I have seen more buyer activity in the last few weeks than I have for quite some time. I think they are on to something. They have not been people looking to make a quick buck on a flip, they have been investors looking for great deals. 

To this point in 2007, the median sale price of a residential property in Lake County is down about 8.5% from 2006. It's good to remember that all real estate is local. Every area is unique. Many places in this country would be thrilled if prices were down only that much. 

As we scrape along at the bottom of this market, try not to be looking for that perfect "bottom" time, look instead for that great deal. It is sure to be there for you.