I know things seem tough out there. Every time you listen to the news or pick up a newspaper you read about gloom. The housing market is in its worst phase. The price of homes are at its lowest in 10 - 15 - 20 years. We might not have reached bottom yet. Foreclosures are rampant, and my favorite " we could go into a recession". I guess I will wait for the market to get better before I buy a house. I know that if I have to sell my home, I would rather you buy when the market is stronger, not weak. So where does that leave the renter? Rents are up 9% and climbing. What would it take for me to get off the fence and consider buying a home. It does not have to be a house or townhouse but maybe just a condo. The goal is own something.
There are large groups of people (investors) that hoard money and wait for just these signs to buy investment properties. If you think about it, wouldn't these conditions spell out the best and for some the only time to buy a home. To boot we have some of the lowest interest rates in history. We are in prime position to pick the right home because of inflated inventories. And with most homes I can buy with some kind of incentive. If I wait for the right time, I might not be in the driver seat anymore. Just something to think about.
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