ORANGE, Conn. (WTNH) — If you’re looking for your dream home, now is the time buy while prices are low.
“Some of the houses that were $299 are $200 now!,” said Coldwell Banker Realtor, Barbara Lehrer. Open houses are slammed. For sale signs are quickly turning into sold. Lehrer says it’s the best Spring market in 10 years, “I’ve seen them come down. They’ve leveled off and so you don’t want to worry that you’re buying a house and you could buy for less money later on. I don’t think the prices are going down anymore.”
Lehrer tells News 8 a Woodbridge home went on the market in 2012 and didn’t get any bites. It just went back on the market and sold within 3 days. The mild winter was an added bonus for sellers along with people relocating to the area for work. Lehrer said, A lot of people are moving into the area, Smilow and Yale. People come to look in January, February and March. They decided where they are going to live.”
Lehrer said in most cases you’re better off buying than renting. “If you had $10,000 to $15,000 in your hand don’t rent where they want three months. First months security, last months rent. By the time you put $10,000 down If you want a nice rent you could own a house,” said Lehrer.
First time buyers are soaking up the savings. Lehrer says the rates have come down. And, there are first time home buyer incentives. “I think first time home buyers are settling into jobs and they are not worried about moving away so they can stay, commit, settle and buy,” added Lehrer.