Posted by: Clancy Fort in MyBlog on Aug 13, 2009
There it is, the big question. The one every kid yells from the back seat of the car, "Are we there yet?" Funny thing...this is the exact questions my clients are asking me today as we go out looking for a home to buy. Here is the answer you have all been waiting for...wait for it...wait for it....I don't know and anyone that tells you they do is full of (How did my son put it? Oh Yeah!) POOPIE.
The market is extremely volatile right now and depending on the neighborhood you are looking in you could see price stability, price falling and in some cases price overbidding.
All of my clients keep asking the same question, "Is this the right time to buy?" "An emphatic, YES!" is my answer. Look at the facts, overall prices are lower than they have been for a long time. We may or may not have hit the bottom but if your planning on holding your property for more than 5 years. THIS IS A GREAT TIME TO GET BUY REAL ESTATE.
The only issue you face is how to finance it. The banks are still very stingy with their money, so your going to need at least 10% down and a decent FICO score.