When is it a good time to buy a house

By
Real Estate Sales Representative with A1 Connection Realty, Inc.

 

I often hear the question about whether to buy now or wait a bit longer.  That is a really difficult question to answer at times, because the market is constantly changing and the nedia insists that it will continue to be in a slump for at least another year.  Not every area is in the same predicament.  Anyway, I came upon this article and thought it covered the question fairly well.  As my broker says...by the time we hear it's a good time to buy from the media, it will be too late.   

The article - written by June Fletcher of the The Wall Street Journal, and she gives a generalized verion which covers the topic very well. 

In a nutshell, we are in a "Buyers Market", and the Buyers not the Sellers set the prices.   The seller can only set the asking price....the real price is whatever the buyer pays for it.

  Housing prices are down, interest rates are low, and the buyers are out looking for deals.  Make it happen.

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Rainer
26,263
Rian Muleback
Gresham Oregon Real Estate
Encore Realty
It does seem that the buyers are in control right now.  I have noticed that there is a lot more negotiating going on in deals than ever before.  It will be interesting to see how this all plays out.
February 21, 2008 04:06 PM
Ambassador
1,927,334
Steve Hoffacker
New Home Sales Trainer/Coach, Sales Books Author
Hoffacker Associates LLC

Bob,

Now is the best time to buy, there has never been a better time - especially for new construction. Think about it. Buyers know what the selection is, they know what their choices are, they know their price options. If a home is priced correctly it doesn't have to be seriously adjusted to sell. Could the market go lower? Maybe, but it could also start moving up. If people are holding their homes off the market until that magic time when prices start to move up, just think what a glut on the market that will be and then guess what? Prices will start to fall through too much product - even more than now.

Steve

February 21, 2008 04:07 PM
Rainer
139,370
Harold "Hal" Place
A1 Connection Realty, Inc.

I can't agree with you more Bob.  I just told one of my clients the other day that if he waits too long and the market starts the upswing, it will be too late. 

February 21, 2008 05:32 PM
Rainer
208,480
Bob Cumiskey
US Army Retired, Your Sun City Center, Florida ~ Realtor
A1 Connection Realty, Inc.
Thank you all for your responses.  It's nice to know I'm not out here just talking to myself.  LOL  Good luck to you all.
February 24, 2008 12:17 PM
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Rainer
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Bob Cumiskey

US Army Retired, Your Sun City Center, Florida ~ Realtor
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