Everyone knows that the housing market has taken a hit in recent years. Not a day goes by that there isn’t a news report on one aspect or another of the mortgage crisis, short sales, foreclosures and the affect on our economy. It may sound like a lot of bad news and can often scare many first-timers away from the market entirely; however, a down market can actually present an excellent opportunity to get some great deals.
The Fort Bragg/Fayetteville market is no exception to this. Fayetteville has been been somewhat insulated from the drastic highs and lows of the real estate crisis thanks to the influence of Fort Bragg and the effects of BRAC on the local economy. 2011 saw an exceptional boost with the arrival of Forces Command (FORSCOM) and the Army Reserve Command. This BRAC realignment brought about 3,000 new personnel to Fort Bragg, which is already home to the 82nd Airborne Division and Special Operations Command, among others.
These changes have resulted in the Fort Bragg BAH rates seeing a significant rise for 2012. On average, the rates rose about 9.5% in January. There continues to be a large inventory of homes available in the greater Fayetteville area, making it a buyer’s market. This can be used to your advantage when considering a real estate purchase, and it is important to do your homework. A Fort Bragg area real estate agent can assist you in your research of homes for sale. There has been much made of short sales and foreclosures, and deals can definitely be found there. Savvy buyers may be able to look a little closer to find some great deals without the complications that can come with distressed properties. With the help of your REALTOR®, you can find hints that a great deal might be possible by closely examining real estate listings for certain key words or phrases or signs that a seller might be willing to negotiate on price. Terms such as “motivated seller” and “below appraised value” can tip you off to a potential deal. If a home has been on the market for months, is sitting vacant or has had a number of price reductions, these might be signals of a possible bargain in the making. Your agent can assist you with identifying these potential signs and then negotiating to get you the best deal. They can often negotiate to get all closing costs covered by the seller as well.
The Fort Bragg area includes Cumberland, Harnett, Hoke and Robeson counties, which include the cities of Fayetteville, Spring Lake, Hope Mills, Raeford, Sanford, Lillington and Cameron. There are homes available in these towns in all price ranges, and deals can be found in any category. Finding a great home at an equally great price will set you up for future success as well. When it’s time to move on, the savings up front will make it easier to sell your home to a new buyer. With so many homes on the market, the opportunities have never been greater.
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