Plenty of Homes For Sale in Lubbock - KCBD NewsChannel 11 Lubbock

1/18/07

Plenty of Homes For Sale in Lubbock

Looking to buy a home? Well you shouldn't have a problem finding one for sale in Lubbock.

Right now there are 1,600 to 1,900 homes on the market.  A reason why the experts say now is the time to buy.

After half a year of searching, David Freeze and his wife are about to move into their dream home. But if considered a buyers market, why did it take almost 200 days to buy?

"Here in Lubbock we found it to be difficult. A lot of the homeowners selling are not willing to negotiate," says Freeze.

A minor frustration according to realtors, who say now is still the best time to buy.

"Buyers right now have the lowest interest rates we've had in a long time. They also have different opportunities through programs where they can move in for absolutely no money down, no closing costs. It's awesome," says Lloyd Headrick, a realtor.

In Freeze's case the home had been completely remodeled, the seller negotiated on the price and added a homeowner's warranty to the deal. With incentives like these you would think more homes would be flying off the market, but the experts say we're simply in a slump.

"I think it's primarily because of economics. When housing market turning, it's indicator people don't have money," says Headrick.

The experts say if you need to sell your home right now - you can - you just have to play your cards right.

"If you put your house on the market, you put it on at the right price and you market it correctly -  it will sell in 90 to 120 days," says Headrick.

And if you decide to buy, take some advice from the man who's been through more than 200 homes in the last six months.

"Stick to your guns. Homeowners trying to sell will have to come down and negotiate some. Just wait it out," says Freeze.

If you are worried about putting your home on the market right now, Headrick says you can always rent it out until the market gets better.

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