There's really no way to predict what the market it going to do. Think back a few years... Most people didn't see the housing crash coming.
It's a sellers market right now and while things can change quickly, I think it's going to be this way for a while.
Keep looking. New homes come on the market all the time.
I use a couple of creative strategies that have worked to get my buyers into homes, but there's no "sure thing" that will guarantee you an accepted offer.
20 years from now people are going to say I could have bought a home when interest rates were 3.5%! Just take a minute and imagine how you're going to explain why you didn't buy a property at the best time to purchase in the last 80 years!
Buyers have gotten used to historically low mortgage interest rates, mistaking them for normal rates and thinking that this situation will continue. In our SE Michigan market interest rates, property values and property taxes all have only one direction to go...up!
I know it's frustrating - it's driving us crazy too. Trust me though...10 years from now you'll be thankful you persevered!
Also keep in mind that "figures lie, and liars figure".
Having said that, it IS a fact that there has never been a better time in all of history to buy a home.
Unbelievable interest rates, coupled with prices 40% or more off the 2005-6 peak should be enough of an incentive for continued vigilence.
Keep looking, but be mindful that most worthwhile properties are going quickly.
Further questions, give me a call.
Mark Mergener Cell 248 935-0335