Negotiating for buyers in todays market is very interesting. Yes, buyers do have an advantage because there is still more houses then buyers making it a buyers market but like in every negotiation, every home seller does have a bottom line. You have to be conscious of the local market place and the current house values but remember, you are able to buy homes today that are anywhere from 3 to 20% less in cost then if you where to have bought just as short as 12 months ago. Every buyer wants a good deal and walk away feeling great about their purchase but remember, so does the seller have to feel good about their sale too. Every home will need some maintenance repairs, but when it comes time for the inspection, be aware that this is not a time to renegotiate the purchase price. Identify major repairs that need to be addressed and figure out if you have negotiated already enough to compensate for those repairs. Many sellers on the original offer will negotiate to their bottom line and coming back with thousands of dollars of repair requests may end in the seller refusing to budge any more. At this time you have to figure out if you are content on the purchase and address these repair items once you move in. Just remember the old saying, "The grass is not always greener on the other side". Don't think you can always walk away and find another home that can replace this one.

With home sales in the metro Detroit area being up over six percent in February 2008 from February 2007, it looks like this could be a sign of a busy real estate market this spring. With this past winter being one of the heaviest snow falls in Michigan history, I believe this kept many home buyers from shopping and purchasing. I think there is plenty of pent up demand and with interest rates hovering around six percent, and home values at a low, there has never been a better time to buy. I look forward to March sales being up from march of 2007 and this momentum carrying right into the Spring market.