It is a great time to buy because you can now get alot more house for your money than you could 5 years ago. The one great advantage to this current market is that first time homebuyers can now live the American dream of owning their own home. Back in 2005 when prices were going crazy, many young people and first time buyers were priced out of the market.
Prices aren't going to jump up fast but they are stabilizing and will slowly begin to rise. It's going to be many years before we see those 2005 prices again, but an investment today will pay off in the future.
Kathy Persha, Realtor
Keller WIlliams Realty
The real estate market meltdown over the last couple of years has caused most properties to lose value. The amount of the loss depends on type, style, location and desireability. I've seen homes and condos selling for 1/4 or more of what they were previously worth. That is why this market is so terrific for first time homebuyers. With interest rates and home prices so low most buyers can get more home for the money.
If you need assistance buying a home or have additional questions please feel free to contact me.
Have a Great Day!
Karen Paytas, GRI, CMS
Real Living Kee Realty