Best ways to cash in on a buyer’s market

When sellers outnumber buyers, be careful about overpaying

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

October of 2006 promises to be one of the best months in many years to be a home buyer. Unlike the past few years where there were more qualified home buyers than sellers (called a "seller's market"), the current "buyer's market" is just the opposite with more homes for sale than there are qualified buyers in the market place. If you have been considering a home purchase, there are at least five key reasons for buyers to take advantage of the current home "buyer's market" in most cities. Purchase Bob Bruss reports online. They include (1) a record number of brand-new and resale houses and condos on the market for sale; (2) competition among sellers is keen for the available buyers; (3) new and resale home prices have stopped escalating and are "plateauing" or even dropping slightly in most communities; (4) mortgage interest rates are still very affordable; and (5) motivated sellers are eager to negotiate on price and terms. Of course, the smartest home buyers, even in a buyer's market,...