For those who have been sitting on the fence waiting for the "bottom", their wait may be over. Although no one would say we are completely out of trouble, it is a great time to buy if you are confidently in a position to do so. With a strong equity position and secure source of income, what better time to purchase a first or second home than right now with interest rates as low as they may ever be and home prices at their lowest levels in years?
Some might say that they will wait until the market actually bottoms out but history will show that most people buy on the upswing when the market has already started its upward climb. If you are planning to buy, use, and hold the property for at least five years, it should be better to buy as close to the bottom as possible and take advantage of today's low rates and prices.
Sellers are more eager than even six months ago to make a deal. Thoughtfully consider your reasons to purchase a new or additional property. Make sure you would buy the property regardless of whether or not it may appreciate. Take a sober and realistic look at your resources. And then armed with rational reasons and the steam to back it up, jump right off of that fence and make the deal of a lifetime!
"Get in on the Good Life!"
