Click the link to read a great article. I took the best chunk from of it and you can read it below:
HOUSE HUNTING TIP: Some buyers who can afford to buy today and would like to take advantage of low interest rates are holding back due to fear. There is risk involved in buying a home in today's market; prices could move lower before they improve. There is also risk if you want and need to buy and you postpone it.
We are living in unprecedented times. Home prices have dropped more during the recent recession than they did during the Great Depression. Even though another recession might be in the near future, at some point the housing market will improve.
New-home construction has been virtually nonexistent for years. When the foreclosure inventory that has overshadowed the home-sale market diminishes and the job market improves, the housing market will pick up. In areas with a shortage of inventory, home prices are likely to move upward. This is already happening in areas with significant job growth.
For some buyers, it's a good time to buy. Let's say you've outgrown your current home and need a better school district. If you can sell or rent your small home and qualify to buy a bigger house in a better location that will last you for decades, you could buy at a discount.
If you have any further questions shoot me an email at Lukeg@comey.com or hit me up on Facebook!
