I always try to refrain from speaking in general terms, especially when it comes to real estate. Take the title of this post as an example. Is this a buyer’s market? The answer really depends on how one defines buyer’s market. Is this a good time to buy? That’s a question that’s best answered by the home buyer once all the facts are on the table and weighed.
Why buy now?
- Prices depressed
- Lots of choices
- Dream home may be available
- Low mortgage loan rates
Why not buy now?
- Weak stomach for further possible declines in value
- No, or low, down payment available
- Shaky job or income security
These are just some examples of reasons to either step in or stay out of the market.
What’s most important for any prospective buyer is to make sure the current market conditions are well understood. And if the decision to buy now is made, then the what to buy, where to buy and how much to pay, are all very important considerations.
Questions about the market? Considering a home purchase? Considering a sale? Need to sell?
Give us a call.
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