But how will you know when that is going to
happen? This is one of those things that cannot be predicted
accurately. The truth is we'll know the market has hit bottom AFTER
it has occurred.
If you would like to buy a home, it's a great
time to do it. It's possible that it will be a better time in a couple of
months. It's just as possible it won't. This may be a good time to
ask yourself, "when interest rates and home prices start moving up and
your payments jump a couple hundred dollars, will having waited really be
a benefit"?
When will the price drops be enough? Another
5%? 10%? Then make your offer 10% lower. With record-low
interest rates, housing prices, and large inventory, it's a great time to buy.
The time to buy is when you need to/want to and
can afford to. It should be about your life conditions, not about market
conditions.
(For more tips on buying a home, check out my
other upcoming blogs on my blog page or give me a call at 902-222-6909).