Of course with such a large financial purchase, it is natural to want to buy as low as you can and sell as high as you can. But I need to caution you buyers out there who are waiting on the sidelines for the only purpose of trying to "Time The Bottom" Here's a fact...by the time the media tells you its the bottom...you will have missed it. Because the bottom cannot be called until we see prices start to go up. Once prices start to go up, you are no longer at the bottom, you are on the rise. :)

So what do you do? Well...if you are planning to buy a home to live in for at least the next several years, then now is a terrific time to buy, and lock in at some fabulous mortgage interest rates. If your home goes down in value in the next 6-12 months, who cares, if you are staying in the house for 4-5 years?? The fact is that just like any other investment such as a stock, bond, mutual fund, or commodity, the prices will rise and fall. If you are thinking long term, then real estate has proven time and time again to be a sound asset, no matter WHEN you buy.

If, on the other hand, your short to mid term plans are very uncertain, or you are looking to make some fast money, then yes...wait on the sidelines, because this market is not for you. That time was in 2001-2005, and we are not likely to see that kind of boom again anytime soon.

Of course I have no crystal ball, but I do know that if you have the home for a long period of time, you will look back on 2008 and likely be glad you made the decision to buy.

Sean Carroll - Realtor, Team Leader

"Team Carroll" - Real Estate Professionals

www.GoCarrollTeam.com