Some of my client's look to me and ask, "So, what do you think is going on in the Real Estate market"? I would then ask are you purchasing because you need a home to own or are you investing in Real Estate.
It does make a difference. However, without going into that at this time I would like to point out that the best time to buy is now. Prices are low and interest rates are low. Interest rates are going up but slowly now that will soon change. There is great pressure on the market to increase the interest rates.
Here in California we have had one of the worst February's in history. You must understand that consumer confidence is what powers markets not low price or interest rates. If people are afraid and or do not believe in the market they to not purchase homes.
At this time with the high unemployment and the uncertainty of the overall economy and wars and rumors of war people are very negative on getting into the market. Giving those who want to purchase an advantage. Now is the time to buy. I believe that door is going to shut soon with high interest rates.
The government and the banks are making it more difficult. The lending criteria is getting harder and harder for the consumer to purchase a home and the amount of cost to get a loan in increasing. The first time buyer will soon find himself left out of the market.
One of two things is on the horizon high interest rates or massive inflation maybe both. That will close the door.