I often hear the question about whether to buy now or wait a bit longer. That is a really difficult question to answer at times, because the market is constantly changing and the nedia insists that it will continue to be in a slump for at least another year. Not every area is in the same predicament. Anyway, I came upon this article and thought it covered the question fairly well. As my broker says...by the time we hear it's a good time to buy from the media, it will be too late.
The article - written by June Fletcher of the The Wall Street Journal, and she gives a generalized verion which covers the topic very well.
In a nutshell, we are in a "Buyers Market", and the Buyers not the Sellers set the prices. The seller can only set the asking price....the real price is whatever the buyer pays for it.
Housing prices are down, interest rates are low, and the buyers are out looking for deals. Make it happen.
