Is Now a Good Time to Get a Great Deal on Real Estate in Georgia?

With increased home inventories and decreased home prices, now might seem like the perfect time to purchase a home. And it could be, if you can get the financing.

Due to the subprime mortgage crisis, some may find it more difficult to receive financing for a home loan today than just a year ago. If you are in a position where you can purchase a home with a significant down payment, you’ll probably be able to purchase a home worth more than what you are paying for it. But, with less than a 20 percent down payment, you may have trouble finding financing with a reasonable interest rate.

Other factors you should consider are how long you plan to stay in the home, and whether you must first sell your current residence.

• Experts say this is not the time to buy a property and then try to flip it a few months later for a profit.
• Some realtors in Georgia are wary of working with buyers that need to sell their home first. If you are in that situation, be sure to do research before selecting a real estate agent.

The bottom line in this market? Yes, you can get a great deal if you have a clean credit report and a reasonable down payment.