Take Advantage of Home Prices and Buy Now

If you’re in a position to purchase real estate right now, I say do it. Why? The real estate market has this vicious cycle that doesn’t come around once every year (this is coming from a realtor by the way). But it’s truth, the real estate market has its ups and downs but the downs aren’t as frequent as the ups.

So, with the current state of the economy influencing the real estate market and vice versa, there are a couple of schools of thought when it comes to buying a home. First, the competition isn’t as great when thinking about other individuals that might be vying for the same property that you desire. Secondly, the prices are better than they were about 18 months ago. This means you don’t run the risk of paying too much for a home.

Now the biggest issue. Getting approved for a home loan. Can you qualify? If you do qualify, at what interest rate will you be approved? Right now, mortgage rates are at their lowest point on record and that should be a huge motivator for you right now if you’re thinking about purchasing. Get in while the prices are great, competition is low, you’ll save money with better rates and you’ll be in a nice equity position down the road.

There is no doubt that NOW is a great time to buy. You can negotiate a reasonable price on a home at an amazing rate. I just don’t think that there is an argument that now is not a good time to buy if you’re in a position to do so.