Many buyers are waiting on the sidelines for things to get better. They will… eventually. While most news is mixed on when the next boom will happen, everyone agrees on one thing - it will boom again. Population explosion from immigration and demand for U.S. Housing will continue on a steady pace for at least 40 years! Real estate doesn’t boom and bust, it just comes and goes in waves, causing a doubling in prices every time around.
Many are waiting for the green light to buy, and this may not be the best idea. Bargains are everywhere, and interest rates are still cheap.
Lower rates means more buying power. As the government stimulus continues on it's present course, which includes buying up mortgages from Fannie Mae & Freddie Mac, we could see an earlier recovery of the market, and those that wait it out may lose out on bargains!
When the overwhelming news is negative, that generally signals the bottom of a market. If you are waiting until TIME magazine cover says the market is rebounding, it’s a mistake.
By the time the media signals the green light, it will be a year too late!
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