"Have you lost your mind?"

"Have you lost your mind?" That's the question I wanted to asked a woman this week, when she said that her and her husband was going to wait to buy, because the market was "DOWN" right now. Wow! That's like saying I'm going to wait to fill my tank up, until the price goes up another 20 cents. We are in a full blown buyer's market right now. Just 3 years ago people were offering over asking price, in the hopes of being highest bidder, and they were "settling" for homes that were "close enough", because selection was so low. Now buyers have plenty to choose from, interest rates are still incredibly low and sellers are willing to listen to offers. If you are waiting for the market to squeak down a little more, just to get in at the absolute bottom, you may want to rethink that. The only way you will know when the bottom has been hit, is when you see it in the rear-view mirror, and by then you may have lost out on that deal you really wanted. Every day I hear people say that real estate is "bad"....real estate is never "just bad". When it is "bad" for buyers it is great for sellers (like it was 3 years ago) and when it is bad for sellers it can be incredible for buyers, like it is right now. The simple nature of real estate is such that, like the two sides of a coin, it is always "heads up" for someone. Buyers who are hoping to get to the "absolute bottom run the risk of interest rates increasing. If that occurs they will be paying more money for less home. Don't look back and WISH you had bought now.