As we look at the real estate market today we see a rather slow and depressed economy. That being said it is important to analyze whether this may be a good time for “You” to buy a home. Remember, you as an individual are not going to set a trend in the market nor will you need to follow the trend in the market. In other words, in a down market which we are in now, it may be a very good time for you to buy if you have good job stability and good credit. You can save money and get a great deal on a home. Conversely, if the market is strong, but you as an individual do not have job stability or any funds it would not be a good time to buy a home even though others may see it as a great time.
Now everyone who is looking to buy wants to get the best possible deal that is out there, but you really need to consider is it a good deal for me? We have all purchased an item and then looked at another store, saw the same item and checked the price to see if it is more or less than what we paid. In trying to guess when the market is at the bottom neither you nor I will know the day when the market picks back up. By that time, we’ve missed the bottom of the market that we’ve been waiting on. Therefore we’ll never really know when the market hits the bottom until we’ve missed it!!
From a buyer or seller standpoint then, we need to look at our given situation and say is now a good time for me -not is it a good time for “the rest of the world.” Look at your situation and see if this makes sense. There are many good buys today in the real estate market. Happy house hunting.