There is no way to predict the bottom of the market. If I had a crystal ball maybe, but I don't. So what makes me say that now is a great time to buy? Prices are down and so are rates, add a large inventory to the mix and you have a great trifecta. You want more, how about the large number of "cash" transactions in the market. I have spoken with many realtors recently that are getting cash offers on their listings. Why is that such a big deal? Cash offers mean investors. The investors are getting in the market now. That to me is a sure sign that values are near or at their lows!
There have been a number of articles in the media recently to support my beliefs. Yes, even the ever negative media has started to see the light. Here are a couple of those articles that I think are worth a read:
Why It's Time To Buy - The Wall Street Journal
Return of Optimism for US Housing - CNBC
Now just because there are a couple of articles out doesn't mean that everything is rosy, I am certainly not saying that. I do believe that when we look back we will say that 2011 was the year to buy a house!
Jacob Dean Mortgage
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