Buyer asks: When is it going to turn around?

By
Real Estate Agent with Adams, Cameron & Co., Realtors

I had a customer walk in today and ask "So, when is the market going to turn around?"

Crystal Ball

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!

;-)  Kristin

 

 

Posted by
Kristin Petersen is an award winning real estate agent at Re/Max Property Centre located in Ormond Beach Florida .  With over 20 years experience, including real estate finance and appraisals,  you are in good hands.  NOTHING Beats experience! Contact Kristin Petersen today.  
 
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Comments (3)

Jeff Lundquist
United Country Premier Real Estate - Annandale, MN
Jeff Lundquist

You are correct, just do it!! What buyers do not understand is that when we have officially declared the turnaround, it will be too late. If you are thinking about buying, DON'T WAIT!!!

Jan 18, 2011 04:09 AM
Gary & Melynda Wolter (CRS) 480-269-1164
ProSmart Realty - Mesa, AZ
Reliable, Premier Personal Service since 2001

Our crystal ball broke, but from past experience & current market trends, this is a great time to buy. Good luck in 2011!

Melynda

Jan 18, 2011 04:10 AM
Kristin Petersen
Adams, Cameron & Co., Realtors - Ormond Beach, FL
Realtor - Daytona Beach, Ormond Beach - Ormond by

Jeff and Melynda, I just wish all buyers would take our proven advise!!  Have a great year as well!

Jan 18, 2011 06:33 AM