So I ran across this article today:
Basically, they have decided what major real estate markets will see the largest decline in values. They have determined where the peaks were & have guessed on where the bottoms will be.
Guess what? Cape Coral, Florida is first on the list. I don't care. I still think now is a very good time to be buying. Read my latest news report on Cape Coral, Florida.
The reason now is great is because sellers all pretty much now know that it's a buyers market (many were in denial up until recently). A buyer can negotiate here. There is a lot of inventory now, many sellers need out, not so many buyers here right now & oh wait, everywhere you turn you hear it's NOT the bottom so sellers are freaking out here - or should be.
But if you wait until they say things should bottom out say Q2 2007, sellers have read these articles too. They are going to wait it out, because 'of course' it's the bottom and why would they sell at the bottom? So buyers will have less chance to negotiate. See my point? Why would you wait until things start going back up?
By the way, more buyers are here again. I have several pending properties right now. They are all great opportunites & were negotiated very well.