Where is the truth when it comes to answering the question of whether you should buy now? There is a lot of intel in the world that talks about if you should or shouldn’t buy a home, have you heard these quotes?
- “You better get out there and buy something – Interest rates are on the rise.”
- “If you don’t buy a home now, you will miss out.”
- “We are on our way to recovery…”
I am sure you have heard some of these – heck, turn on the 5pm news and see for yourself. The only person that can tell you that it is the time to buy is you. It is your money, your dime, your financials. Home ownership affords you a tax deduction – There might be other benefits that you can come up with. My Reasons to own a home are mine – you need your own. Have a look at the rest of this post and let us know if we can help you!
Every day it is possible to read and have access to a real estate update, and every day the news can be different, but a burning question that appears over and over is: is it time to buy? Certainly this is not an easy yes or no answer. Is it a good time to buy real estate? Yes. Is it a good time to buy real estate for you? Only you hold the answer to that question, which involves evaluating your financial position, your lifestyle, and your real estate goals.
What makes now a good time to buy real estate? The obvious factors are that mortgage rates are still hovering below 5%, home values have continued to drop, and inventories remain high. June 2006 has been marked in history as the overall time period for the height real estate values, since then real estate has dropped over 25%.
There is no doubt that housing prices are at or near the bottom and anyone buying a home on the low side of the housing pendulum stands to make the most profit over time. So, is now the ideal time for you to buy a home? Again, only you can answer that question but if you are thinking about it locate a reputable REALTOR in your area and get to know what is going on in your local market.