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Now is NOT a good time to buy

By The 1410 Group of Benchmark Realty, LLC

Real Estate Agent with Benchmark Realty

March 30, 2009 05:06 AM

I have been reading some blogs around the internet. There seem to be a lot of people hurt over hearing that "Now is the time to buy". Three years ago, consumers were hearing the same thing from Realtors as they are now. These same people are now going into foreclosure or have less money in their home than they did when they bought it.

These blog posts are hard to read. They are from upset home owners (or former) who were told that THEN was a great time to buy. I really don't blame them for being so upset. We as professionals should be more aware of the market and what is best for our clients and less aware of what a potential commission check is going to look like. When is the last time a Realtor has talked their client OUT of buying a home? advice

Sure, now IS a good time to buy a home...especially for first time home buyers. Home prices are low, interest rates are low, and the government is handing out money, but if our clients shouldn't be buying due to lack of income or any other reason that we as professionals should be cautious about then I believe it is our duty to advice them during this crucial decision.

Instead of shouting from the rooftops "Now is the time to buy" (preaching to myself as well) maybe every once in a while we should say "Now is NOT a good time to buy".

Stephen Strickhausen

www.NashvilleTNMLSsearch.com

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Vickie Nagy

Coldwell Banker Residential Real Estate - Palm Springs, CA

Vickie Jean the Palm Springs Condo Queen

Stephen, there are many of us who think it is opportunity time, myself included. I purchased a home in November and don't regret it at all.

Mar 30, 2009 05:15 AM

Linda Greco Rich, ABR, SRES

Exit Preferred Realty - Bel Air, MD

Harford County Specialist

I could not in good conscience sell a home to a buyer who was not aware of all factors. But, ultimately, who are we to tell someone whether he/she should buy? Now is a great time to buy if you know exactly what you are going to be paying each month and if the comps are there to support the investment. Also, I only work with loan officers who are straight shooters. That makes all the difference in the world, too!

Mar 30, 2009 05:16 AM

The 1410 Group of Benchmark Realty, LLC

Benchmark Realty - Franklin, TN

I agree! I have a loan officer who will tell them yay or nay. I think now IS a great time to buy. I am just making the point that we must be honest with them... Regardless of the times!

Mar 30, 2009 05:19 AM

Amanda Wilson

EWM International Realtors, Inc. - Fort Lauderdale, FL

Real Estate Advisor

Right Linda.....now can be a good time to buy...it's a case by case basis.....if all the important information is disclosed....a good loan officer, experienced realtor--a great buy--it can be a wonderful opportunity!

Mike Mitchell

Kee Realty - Saint Clair Shores, MI

REALTOR (R)

Excellent post Stephen. I actually have talked clients out of certain homes in the past, ones that I thought would need too much work / money put into them, but ultimately it is their decission. Also, I always ask my buyers are you comfortable with the monthly payment that your lender has informed you of, because you have to pay it, not me.

Mar 30, 2009 05:23 AM

Mike Frazier

Carousel Realty of Dyer County - Dyersburg, TN

Northwest Tennessee Realtor

I have been a Realtor since 1992 and have never seen as great a time to buy than right now. I predict we will never have another opportunity like today.

Mar 30, 2009 05:30 AM

Mark Artesani

Keller Williams Realty - Fountain Valley, CA

Huntington & Newport Beach, Fountain Valley Homes

I remember my Mom telling me of mansions for sale for a nichol on the dollar after the great depression. Seam like we are there again.

Mar 30, 2009 05:44 AM

Claude Cross

Homes By Cross, Inc. - Charlotte, NC

Charlotte NC Homes For Sale

If you can't afford to buy, it's never a good time. But if you can....I've never seen a better time

Mar 30, 2009 05:53 AM

Michael Fowler

Fowler Realty Quad Cities - Davenport, IA

Broker, Owner Fowler Realty

Great post. When do we really know what time is the best opportunity for buyers to get into a home. Take care,

Mike

Mar 30, 2009 06:31 AM

Richard Dolbeare

Inactive - Wailuku, HI

Living the Hawaii Lifestyle

It's not possible for me to evaluate the security of a person's job. But one thing I do know is that this is a fantastic market. Of course that doesn't hold true for most sellers and real estate agents.

Mar 30, 2009 06:38 AM

CreekStone Homes

CreekStone Homes - Colorado Springs, CO

Inspiration Comes Standard

Buying real estate is always a good decision. The people that bought a few years ago will just need to hold on a little longer for the market to come back around for them. Again, it is a place to raise a family, build memories, and have a place to call HOME. NOT a cash cow. SO if you buy under these circumstances, and can afford it, buying real estate is always a good decision.

Mar 30, 2009 08:54 AM

You guys are all right! Real Estate may never be a bad decision when you have the right team. A good Realtor, Lender, etc. will lead into a great home buying decision. My point is that we as "real estate professionals" although not able to make decisions for our clients should give good advice to them. Sometimes that advice is NOT to buy right now...even with such good market conditions.

Mar 30, 2009 09:29 AM

Monica Neubauer

Franklin, TN - Realtor, Trainer

Good post Stephen. When I wrote to my database and told them about how great the new tax credit is I ended it reminding them to not buy a house they couldn't afford and make sure the loan is fixed. Let's not use current good tools to make another mess.

Mar 30, 2009 10:32 AM

I agree with that. We shouldn't put a home sale or commission check in front of what is right for the buyers.

Mar 30, 2009 11:15 AM

Larry Brewer - Benchmark Realty llc

Benchmark Realty LLc - Nashville, TN

Some people should never buy. It's just something that isn't for everyone. But if you wanted to buy a home for a investment reasons, now looks better than any time in the last few years.

Mar 30, 2009 02:56 PM

Roger Johnson

Hickory, NC

Good post. I've actually told a few prospective buyers that, from the information that they've given me, may want to wait a bit before getting committed to the idea of buying a home. Now is a good time to buy, in general, but specifics matter.

Apr 01, 2009 05:50 AM

Now is NOT a good time to buy

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