WAITING To Purchase A Home May Not Be In Your Best Interest.....Literally...

By
Real Estate Agent with The Burnham Realty Group NAR #SL3299848

Many consumers are under the impression they should wait until they are certain that prices have hit rock bottom. When making this decision of whether or not to wait, consider where the direction of the COST of the home is going instead of just the PRICE. The logic behind this is a direct result of fluctuating interest rates.

Comments (8)

Daniel J. Brudnok, REALTOR
Berkshire Hathaway Home Services Fox & Roach, REALTORS - Exton - PA License #RS-225179-L / Delaware License #RS-0025038 - Downingtown, PA
SRES, e-PRO,ABR,GREEN,CSP

Beverly,

I have had 5 "on the fencer's" come forward and 3 are now under agreement.....the word is out!

Mar 19, 2012 09:55 PM
Lucy E. Thompson
Keller Williams Realty Premier Properties - Summit, NJ

I agree with Dan - suddenly the fence sitters are making decisions!

Mar 19, 2012 10:00 PM
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Beverly, there is not a doubt in my mind that as the market continues to improve, that interest rates are going to be on the rise.  It is so sad to see first-time home buyers thinking that waiting is a good thing... find out that it only served to make things worse when rates went up.

Mar 19, 2012 10:21 PM
Beverly Couch-Burnham, Realtor®,
The Burnham Realty Group - Tampa, FL
Your Tampa Bay Home Connection®

Dan, Thanks for the comment and the validation

Mar 19, 2012 10:37 PM
Beverly Couch-Burnham, Realtor®,
The Burnham Realty Group - Tampa, FL
Your Tampa Bay Home Connection®

Lucy,

....and isn't it about time.  Thankfully, though, they are finally seeing the light!  Thanks for the comment.

Mar 19, 2012 10:38 PM
Beverly Couch-Burnham, Realtor®,
The Burnham Realty Group - Tampa, FL
Your Tampa Bay Home Connection®

Hi Karen,

Yes, it is sad.  With some (those to whom you can tell nothing because they know everything) there is the slightest hint of wanting to say "I told you so".  However, even for them and especially for those who are feverishly trying to correct their credit or improve their scores and/or for various other reasons have to delay their purchase, I genuinedly feel badly.  I believe if you truly have a passion for this profession, you are hard pressed to be hard hearted with people because of their home buying/selling decisions.

Thanks for taking the time to comment.

 

Mar 19, 2012 10:43 PM
Edward Gilmartin
CRE - Boston, MA

Of course now is also a good time to sell. Higher rates in the future will dampen demand for housing too and push many out of the market. So if you are thinking of selling in the near future now could be it.

Mar 19, 2012 10:47 PM
Beverly Couch-Burnham, Realtor®,
The Burnham Realty Group - Tampa, FL
Your Tampa Bay Home Connection®

Excellent point, Edward.  Additionally, you recoup any losses from selling in a depressed market when you purchase your next home, especially if you're a move up buyer!  Thanks for your comment.

Mar 19, 2012 10:47 PM