Here are the 3 best reasons to get into the market and buy a home:
- Lots of inventory: there hasn't been this much to choose from in many years. There are so many homes on the market right now that buyers can take their time and find the right home for them.
- Competive Pricing: it's been many years since we've seen home prices this low. Prices have come down quite a bit in the last couple years and there are so many great deals out there to be had.
- Low interest rates: we are still experiencing interest rates at near-historic lows.
There you have it - three of the best reasons not to wait.
Of course, many buyers are still going to wait a bit longer hoping to buy at the bottom. I guess that's something we'd all like to do. However, just as it's just about impossible to time the stock market, it's just as tough, if not tougher, to time the real estate market. And, keep in mind... how do we know when the market has bottomed out? Well... when it starts heading back up, of course. By then, it could be too late, since everyone is hurrying to get back in at that point. More competition means fewer homes to choose from and higher prices.
The bottom line is this: if you're considering buying a home, then now is a great time to do it. Even if the market dips a bit more after you buy, as long as you plan to be in the home for a few years, a short-term dip probably won't impact you at all. And you do get all the benefits of home ownership including the tax benefits.
If you'd like to discuss your options, please feel free to call us.
Kathleen 336-456-8968 or Matt 336-456-1956