I had a customer walk in today and ask "So, when is the market going to turn around?"
Well, IT ALL DEPENDS! I know that he didn't want to hear that in areas, it already has! But in my area, Ormond Beach, Florida, the news continues to bombard the public with negative real estate statistics and 'bahh humbug' stories of how the market will get worse this year.
While that may be true in certain areas of our county, if you are a REAL buyer and plan on keeping your home for awhile, NOW IS the best time to purchase. Especially if you are financing. The predictions are that interest rates will definitely begin to edge upward by mid year. Of course, higher interest rates affect how much home you can qualify for......
If you find a home that meets your criteria and you really like what you see, you should try to get the best deal on it you can right now and BUY it! If you wait, you may have to settle for less than what you wanted or worse yet, not even get a home or condo due to paralysis analysis!
The only time we will know when the market has turned is AFTER the market has turned!
Then I expect to be hearing "We could've got that home for "xxx".....We should've moved on it!.....Why didn't we bid just a little higher?".........
In the words of Nike....Just Do It!