I answered a question on Trulia Voices last night that inspired me to write this blog post. It's a question that I hear in various forms on a regular basis. The question was from a prospective first-time buyer in the Rochester area who was wondering if she should buy now or wait a few months. She had heard that things were only going to get worse for sellers in our area and thought waiting might be the way to go. In other words...
She was considering trying to "time the market".
First of all, I applaud her for asking her question on Trulia in the first place. So many people would have taken their friend's and family's advice for gospel rather than asking the experts for advice. She received four answers last I knew, and they were all very helpful. This is the advice I gave her, and I think it's something every prospective first-time buyer in the Rochester area should hear.
There are two huge advantages to buying your first home now in the Rochester area: the $8,000 tax credit and the super low interest rates. The $8,000 tax credit no longer needs to be repaid, and you can take advantage of it through December 1, 2009. That means if you buy a house in 2009, you get $8,000. How can you beat that?
The tax credit will be around if you decide to buy in a few months, but consider the interest rates. Our interest rates are currently hovering just above 5% for a 30-year fixed mortgage. That's a historical low, and you never know what's going to happen to rates in the next couple of months. Plus, I've heard talk that we actually might be heading back into a seller's market.
The moral is, things are good for buyers. Could they get better? Sure. But you never know. Trying to "time the market" could help you or hurt you. I say whenever you feel you are ready is the time to take the plunge. It's probably the best time in history to buy a home in Rochester. How exciting that buyers in our area will be able to take advantage of it!
Buyers... on your mark, get set, GO!!
I am proud to help buyers and sellers in the Greater Rochester, New York area find the homes of their dreams. If you are considering purchasing or selling a home in the Rochester area, don't hesitate to contact me. I pride myself in providing the best possible service for my clients!
When you work with me... 
Visit my website at www.YourNYDreamHome.com to learn more about the services I offer!
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Contact:
Kristen Wahl
Realtor
(585) 455-5524
KWahl@RealtyUSA.com
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