Don't Try to Time the Real Estate Market

Don't Try to Time the Real Estate Market

Although many economists predict that nationally, housing still has a way to go to reach bottom, you don't have to wait for that to happen to get a good deal.  In fact, it's better to buy when housing is trending down than when it reaches the floor, since at that exact moment, the balance of power begins to shift toward the seller again.

All a seller can do is suggest an asking price. The real price is whatever a buyer pays for it. 

In 2004 and 2005, home prices rose because buyers flooded the market –  now prices are falling because many buyers are sitting on the sidelines.  Meanwhile, the number of homes being built hasn't changed drastically; rather, supply is growing because existing-home sellers can't figure out what buyers are now willing to pay, so their homes are sitting on the market.

So if you see a house you like and can afford, make a bid now. And don't worry about insulting sellers with a "lowball" offer.  They may be desperate to move because of a new job, marriage, divorce, overstretched bank account or other motive.  Yours may be the only bid they've received in months and they may be very glad to have it.

Contact us now about buying a home… or leave us your comment below.. we'd love to hear from you.