Real Estate Market screeches "Now is THE Time TO buy a Home"

I will be totally open in my analysis that the home selling market has really fallen flat on its face in Madison Wisconsin.   We are not experiencing our usual October rally.     Despite some amazing buying opportunities and rock bottom interest rates.  What is going on?

Answer:-

Uncertainty!   The elections will occur Nov 2^nd, to decide if we continue to make slow progress towards recovers, or we put the brakes on the recovery with a congress that has virtually vowed to see America fail by ensuring the president policies fail.  Not very good outcomes either way! 

We had a generous incentive to purchase a home that ended in April.  That had the effect of borrowing first time buyers from the future (ie now)  

Now, in speaking to homeowners they feel a better time to sell will be in the spring. 

Will it???  That is anybody’s guess. 

But what does this mean for potential buyers of homes?    It means right now if a home is on the market, the seller must be pretty motivated.   Average home prices are in a dip, and especially in Madison a recovery is surely around the corner. 

Interest rates are low, but if they inch up, we will lose affordability.

If you have been thinking of buying, or are in a situation to do so.    Do so.   With a Strong buyer agent, there is very little downside.  

Reposted from MadisonHomeBlog