Where are you????
Ok, I know there are some folks out there that are worried about losing their job, or having a wage cut or freeze, or just not confident in the real estate market in general. I understand exactly how you feel!! I've been a Realtor since 1988. I experienced the horrible local market we had here in the early 90's and hoped I would never experience anything like it again. Back then it was a local market problem. Local companies left and caused many jobs to go with them. There was a overwhelming number of homes on the market and Seller's were borrowing to pay the commissions on the houses they sold, if they were even lucky enough to get a offer....some had to rent until the market got better. The difference now is that it's not just a local problem, it's a national problem. So, it's different this time around. What is really different is back in the early 90's....the interest rates were much higher during that market. The rates were between 8% and 10% and Buyer's were able to pick and choose what home they wanted to buy and they were buying homes even in a down local market !!!
Flash forward to today......We have a vast inventory of homes in most price ranges and areas, prices have come down and interest rates are averaging just under 4% or higher. If you have a stable job and are not concerned with a wage cut or freeze......Where are you????? I've talked to many of my fellow Realtors in the past months and we all agree that the one thing missing from the Real Estate market locally is the number of Buyers we've had in the past! Where are you??? If you are waiting for rates to go lower....I would caution you that you may be surprised to know that the forcast is for rates to increase in 2012.....they might not but, they might. Buying a home is not a difficult process if you have a experienced professional to help you. There may be a cost to waiting for things to improve. In the meantime, call a Realtor today and find out if you qualify to purchase a home. Renting is not owning. There is Nothing like coming home at the end of a long busy day at work to your very own home with no one walking across the floor over your head, yelling out in the hallway, challenging you to the last washer or dryer, or playing their music so loud you can't get enough sleep for work the next day. There is no cost to having a Realtor represent you and because we are bound by our Code of Ethics, we must insure that you do all the necessary things to protect your best interest.
So, again I ask.......Where are you?????