Coastal Living South Carolina, Should I buy now?

Should You Wait to Buy?

 Should we buy now or should we wait? That is the question of the month!  I believe that now is the time for many of you to be making a purchase. Let’s review some of the reasons behind my beliefs.

Real estate markets are always shifting and what comes down in price won’t stay there. 

The economy is consistently growing and has been for the last ten years.

Mortgage interest rates are low and stable.

This is an area where people do not have to move to but want to move. Statistics show many of the baby boomer's are coming south and so are many of the family members!

Unlike a sellers market when we were getting two or three offers on a new listing and often getting more than the asking price, buyers are now able to negotiate the price and choose the best listings.

Many buyers are waiting for the market to reach the bottom but the problem with that strategy is that the only way we can tell it has hit bottom is when the prices are on the rise again and then we are hoping that the interest rates are still low. The best strategy, in my opinion, is to find the motivated sellers----- now and make our own market. If you think the market will drop another 5% make an offer in that price range. With a decline in buyers and reduction in demand, some buyers become more reluctant to buy as the prices drop. The smart buyers know this is the time to buy. That is why it is called a buyers market!

What I can do to help is to find houses in good condition and which are priced correctly and match those listings to your wants and needs. It is good to remember, that in a buyers market,  80% of the houses are on the market but not in the market meaning they are overpriced or they are not in good condition and will not sell. Let me do the leg work and find the top 20%. I know the area and the market.

It’s not just a house, it is a life style!