I have been asked many times over the past couple of weeks, "is now a good time to buy a home" and I always reply, absolutely! If you are thinking about buying a home or if you are on the fence and can't make up your mind I have to ask, WHAT ARE YOU WAITING FOR??? This is the best "Buyer's Market" I have ever experienced. Interest rates are at historic lows, now around 4.18% or lower. Sellers are making more concessions than ever and there are some great deals out there. If you are concerned if home prices will fall any further, that's possible. However, at least in the Baltimore Metro area, I think we have leveled off. I am not an economist or event a financial guy per say but most of what I hear and read is that the U.S. economy should start coming back mid to late 2011 and continue growing into 2012. What that means to the buyer is mortgage interest rates could start climbing and so could housing prices.
So once again if you are thinking of buying a home, Now's the time! You won't be sorry.
George Brookhart, CRS, Broker