The time to make the home purchase decision is today and here are many reasons why:
Mortgage Rates: They are LOW. They are lower than they have been for many years and are approaching historic lows.
Inventory Levels: Inventory levels are HIGH. Buyers have an enormous number of homes from which to pick. In many markets, inventory is at an all-time high. As a result, buyers no longer have to "settle" on a home that's not what they want.
Sellers: They are MOTIVATED. Whether they are in trouble with their financing, worried about their employment, or having to make lifestyle changes as a result of losses in the stock market, many sellers need to sell and are willing to negotiate accordingly.
First-time buyers can also get a $8,000 non-repayable tax credit from the government. And you can apply it to either your 2008 or 2009 taxes.
By the time we "reach the bottom of the market" it is too late. We may already be there. Many buyers don't realize that an increase in their mortgage rate will completely eliminate any advantage they may have gained by waiting for prices to decrease by a few thousand dollars more.
I want to be the agent that encourages buyers to make what could be a very wise move!
Realty Times
Comments