Buyers, what are you waiting for?

Buyers are now faced with a common dilemma in today's buyer markets. They often ask...

"If home prices are still going down, should I wait to purchase until later this year?"

The short answer is no. It's not smart to time the market. My advice to first-time, move-up, and relocating buyers: buy when it's the right home at the right time for you.

THREE REASONS WHY NOW IS A SMART TIME TO BUY
1. Flexible loan options are available. Buyers with "ok" to good credit can obtain 100% financing, asset-based loans, and put little money down.

2. Interest rates are great. Buyers who were on the fence have jumped on the ability to obtain a good interest rate.

3. More competition from Sellers to sell their homes. The market heated up in March, but there is even more competition among Sellers during summer months.

"The thing that will make home prices stop falling is the
very same thing that will push mortgage rates higher,"
says Jim Svinth, chief economist at mortgage firm
Lending Tree. So anything you gain by a further drop in
prices might be offset by rising financing costs.”
- TIME MAGAZINE | February 25, 2008