Buying or Selling a Home Revision #3

The real estate market is unpredictable. One never knows what is going to happen the next day. Some may think, the real estate market is going through a tough time, and buyers fear a financial crisis and are not willing to make any big purchases. The majority of the real estate economy is the process of selling or buying a home. Currently, the housing prices are dropping significantly from the past year, and the interest rate seems to be lowering. In an article from CNN.com it states, “The report showed that the national median existing-home price for all housing types fell 6.3%.” Common sense would dictate that because of this, the real estate market should be struggling drastically. However, that is terrific news to current home buyers. Buyers can now take advantage of affordable home prices at a low interest rates. Stephanie Armour, from USA Today writes, “Yet, what's bad for sellers is good for buyers — at least those blessed with excellent credit and enough money for a sizable down payment.” As of this time, anyone who has good credit and is looking for a house can get an excellent deal, which will save the buyer thousands of dollars. I’ve always believed the real estate market isn’t as bad as people are making it. Our family business has always been in the real estate market and making homes. As of right now, we are selling our houses cheaper than last year. Yet the prices for the building materials are dropping, making it the same profit we had been making when the real estate economy had been “flourishing.” Overall the economy may have seemed like it stalled, but people are still making money and houses are being sold.