If you are in the market for a home or are thinking about purchasing a home…let me tell you now is the time to buy. Interest rates are at a 25-year low and the inventory of homes available is high, which means the advantage lies with the buyer. So there is a perception that buying a home in today’s market can be an easy decision if you have a steady job, good credit and don’t have a home to sell.
Let’s take a closer look at that statement.
Historically, we could win on both sides of the transaction because America’s housing values were appreciating. Within the past three year’s however, we have seen depreciation creep in, especially where acute price increases were enjoyed. Like the stock market, we are recalculating our market values to reflect the new norm.