If you take a moment to ponder what has been happening with home-buyers over the past year, you might see that a metamorphosis of sorts has been transpiring with the decision making process. For some buyers the decision to buy a home was not difficult. They needed a home and therefore purchased one. For other buyers, it has been a process much like that of the cycle of the butterfly.
It started with an egg...
The idea of purchasing a home was there, but they were not quite ready or in a position to act upon their intentions. As in real estate, the cycle begins and we do not necessarily have control over the outcome. It just happens and we move onto the next stage.
Turned into a caterpillar...
The buyers started devouring all the information that was available to them about purchasing a home. There was so much information in the newspaper, on the news, and on-line and it was being reported that this was not the right time to buy. Housing prices were still declining and interest rates were still falling. Economists were predicting that it was going to get worse (for the housing market) before it got better. In many areas, it did get worse. Foreclosures increased, and more short sale listings became available. Home sales dropped, new construction stalled and buyer activity was practically non-existent.
Spun into a cocoon...
Buyers have been in the cocoon stage for several months. It was understandable. The housing market was struggling and the banks were changing their lending guidelines frequently. If you qualified last week, you may not this week. Interest rates were fluctuating and looking more favorable to the consumer. Better wait, I might get a lower rate. Housing prices were still adjusting and most of them were still declining. Better wait, I might get a better deal. The stock market was a mess, people were now starting to lose principal on their investments. The unemployment rate was going up and many lost their jobs. Better wait, I might lose my job. For you, perhaps it was a good time to be in a cocoon. 
Emerging as the butterfly...
Prices are lower, interest rates are really good, there is a large selection of properties to chose from and the news is getting better. You are reaching the final stage of the cycle. The next stage is to migrate into that new home. Congratulations, you could not have timed this any better. If you want to know why it is a great time to buy check out my previous post 5 Reasons to Buy a House Now.
Can you relate your experience to the cycle of the butterfly? Get qualified for a loan, call your Realtor® and start shopping today.
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