Naturally, there are many reasons why now is a good time to buy. But, I know lots of prospects are still stalling, mulling, pondering, and otherwise driving their agents crazy.
Until lately, it really was a buyer’s market. Home prices were low, sellers were willing to deal, and it was easy for almost anyone to get a mortgage. And, while I hear a lot about the first two reasons why folks should buy now, the third one doesn’t get much press. Especially since there are all those pesky foreclosures happening.
So, I thought it was interesting when I saw a mention on the Inman blog about an excellent post on a mortgage blog entitled, “Stop Asking Your Real Estate Agent If ‘Now Is A Good Time To Buy.’ ”
The predictions in that post of what could happen in the mortgage industry in the Fall should motivate all but the cash-transaction buyers to make a move this Spring or Summer!
Besides bottomed-out (update: in deference to the comments on this post, perhaps it would have been better to say “low” instead of bottomed-out!) prices and desperate sellers, the TRUTH about why it’s a good time to buy is that if you wait, you could be locked out!
4 Comments
March 28th, 2008 at 2:44 pm
I’ve said it before and I’ll say it again - trying to time a home purchase so you get in at the bottom of the market is like trying to time the stock market. If a buyer sees the right place, make an offer.
March 28th, 2008 at 4:06 pm
Sam, I know you’re right. But, sometimes it’s a challenge to get people out of that Analysis Paralysis!!
March 29th, 2008 at 12:29 pm
The bottom. Where is that?
Ask those that bought in ‘93. Was that the bottom not in LA. Ask those who waited. They found the bottom when they were priced out by ‘96. Meanwhile those that did by in ‘93 were already refinancing for a remodel, or selling to move up.
Positive real estate news
March 29th, 2008 at 12:44 pm
That’s a great real world example. Thanks, Tim.