SYNRGYdesign

That’s the question on everyone’s mind who is thinking about, planning, currently in the market for, or just plan speculating on real estate.  Most people will agree that it isn’t the time to be SELLING a house right now if you don’t have to.  Unfortunately, many people are stuck in the position where they have to sell.  So that’s good if you are a buyer.  You never know when you will hit the bottom of the housing prices until they start going up again.  20/20 always works best after you’ve passed something by.  But many people are always asking and speculating on if it’s the right time to buy a house?

If you frequent any of the real estate forums, you know there has been some great discussion on when is the best time to buy.  People get into heated debates on how long the down fall will last and when and how to time it just right.  This of course like many other things is just pure speculation.  No one knows for sure when the bottom will come.  No one can predict when the buyer’s market will start turning to a seller’s market.  We can speculate and with fair certainty that we won’t have the boom that happened from 2002 to 2006.  Housing prices won’t sky rocket with the benefit of low interest rates and shade loans anymore.  We have hopefully learned from that mistake.  But the question still remains when is the right time to buy?

It will all depend on your situation.  If you are a home buyer who wants to stay there a long time, i.e 10 years or so, and you find something you really love and it feels like the right house and right neighborhood for you then that is the right time to buy.  If you are planning on trying to take advantage of one of these foreclosed home deals and pick up a house really cheap with the intent of trying to flip it for more then what you paid and put into it, then good luck with you and hopefully you researched everything before you get into it.  Now is probably not the time to flip homes unless you really know what you are doing and are certain you are getting the house for 50% below market value.  Otherwise, the days of being able to flip a house and get quick cash out after 2 months of work are probably gone for the inexperienced flippers.  Really, the right time to buy, is when you feel its right for you.  It all depends on your situation.  Looking at what other people are doing and trying to get a house before someone else snatches it up is what got us into this mess in the first place.  Taking your time and really feeling comfortable with your purchase should be what drives your decision.  Not whether or not you are buying at the total bottom of the market.

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