It depends on what market you're in...here in the SouthBay area of Los Angeles, Ca...it certainly IS a good time to BUY!!! I represent alot of buyers and they are finally coming out in droves.........
Several reasons...1) The intelligent buyer or investor realizes that you buy low...sell high!
They are not letting themselves by guided by news that is talking about the "economy in general"
they are making their own decisions and not following the "cattle like" herd mentality.
They see a good deal..and they are jumping on it......knowing prices will eventually go up.
With the first time homebuyer's $7500 tax credit available...www.federalhousingtaxcredit.com and
interest rates still low...as well as 3% down programs still avail and some paying all or most of
your closing costs...then, YES..it's a great market...Here..since most of the homes in the
first time homebuyer range are under $500,000....if they are priced right or under market value,
they are selling in 24-72 hours with multiple offers and bidding wars going on...
So yes, if you are timid..then stay on the sidelines and leave the lion's share to the
savvy investors...who see an opportunity and aren't going to let it pass them by!
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