The question we left off with is when should I buy?
The answer, Now! I know that is the simple, easy answer, but it’s true. We have talked about rates continuing to be historically low and how there are plenty of products available in the mortgage market. So what is holding you back? Market timing? Are you trying to time the bottom of the market? If so, stop. Like guessing stocks, the bottom of the real estate market will be reported months after it happens.
There have been major price adjustments that have taken place in most markets. Are we at the bottom, maybe? For many, this is close enough to the bottom and the opportunity to buy smart is now. There are great deals out there. Foreclosures and forced sales have provided wonderful price discounts and incentives in all home value ranges. Incentives include, seller paid closing costs, reduced rate programs, airline miles, paid principal and interest payments, high definition television sets, builder upgrades and even automobiles.
The fact is housing has become more affordable and bargain prices and incentives have given many consumers an opportunity to be smart about buying. I think the time is now. What do you think?
Relocating employees face challenges other buyers don’t. We will explore those issues next.
