I see that you received both "Now's the time to buy" and "Now's the time to wait" responses, based on predictions about prices and interest rates. I don't think it's realistic for most buyers to try and "time the market." In most cases, it's an individual decision about whether it is the right time for YOU to buy. You don't have a crystal ball, and neither do we.
In 22 years of helping homebuyers as a mortgage professional, I've never seen any "timing" work to a homebuyer's benefit. I take the approach of preparedness and persistence, instead. That's how a HomeBuyer sets the BEST time to buy a home.
Prepare to buy:
Get Prequalified for mortgage financing: focus on monthly payment
Understand your price range: determine your price limits for making offers
Know the location where you want buy your home: when you do, find an experienced Local Realtor
Have your "wish list" ready with the preferred features of the home you want: the "Dream Home" exists in our minds. Knowing your preferrred features of the home you most want helps you compromise when you find the right house at the right price that meets most of your preferred features.
WHEN you go out there, shop 'til you drop. Buying the right home is hard work. Looking at homes, then giving concise feedback to your Realtor helps you find a home that meets your needs and a Seller willing to sell at the price you're willing to pay. You'll be disappointed a few times, that's part of the process. Stay with it and you are sure to make your own "BEST" time to buy a home.
Read the following news headlines
House Sales Are Up! (more buyers means more demand = higher prices)
Hopeful Signs In Housing
I have a coop in Willoughby Walk apartments across from Pratt Institute that was just reduced to $225,000. Call my office at 718-624-9500 to discuss further.
clinton hill RE