STOP SITTING "ON THE FENCE"
With all due respect to Ethel Merman, everything really is coming up roses...well, sort of. Sure, some weeds remain, but they are becoming fewer and farther between.
Of course we are talking about the housing market, where prices posted their first monthly gain in three years, climbing 0.5% in May according to the Case-Shiller Price Index - a closely watched housing-price monitor. The price increase offers yet another sign that the formerly battered-and-bruised residential real estate market is stabilizing
It is worth remembering that there is no such thing as a "perfect market." Home prices, mortgage rates, and the economy will never be "just right." It's also worth remembering not to give one side of the argument more weight than it deserves.
In this market, we still think too many potential borrowers and home buyers are overweighing negative news while holding out for perfection. Unfortunately, perfection doesn't exist, which is why waiting for it guarantees missing opportunity.
If you're a first time home buyer, waiting will definitely guarantee a missed opportunity. First time home buyers only have until November 30, 2009 to take advantage of the $8,000 tax credit.