Kathleen Turner, ABR, CRS, ePro
The Kathleen Turner Realty Group
I just purchased a home for myself because the market conditions are perfect.
Contact me directly if you'd like help buying a home, my services won't cost you anything extra in a transaction as a buyer.
NMLS # 6395
Financing Kentucky One Home at a Time
You can try to "time the market." 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 determines 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. You can always add a fireplace later!
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.
A good time to buy a home is when you feel it is the right time to make the investment based on your circumstances. There is never a bad time to buy a house. Some studies show the market has hit bottom and is climbing back out of the housing recession. Others say it is a fallacy. All I knwo is that the current trend of average home prices in teh Charlotte region has steadily (though a small amount) increased since December through May (the last month they have reported).
Interest rates are at all time lows. This runs with the presidential election year as history has shown us and ratees may go up after the election. The buying power is at one of the greatest right now.
I would say now is a great tiem if you are ready to make the purchase. If you are looking to buy it as a home to live in and build equity; there is not a bad time right now. The market is going to increase and as it does rates are going to start to go up.
If you are looking to buy it as an investment property then it is the best market for that right now in a long time. rental homes right now are very high in demand. A majority fo my buyers are coming out of rentals that they rents were raised so much it made buying more feasible...The demand has out gained the supply currently....
The best time to purchase is when you are financially and emotionally ready, as you can not time the market.
Call me with questions.
My Entire Inventory of VisualTours
Data from the National Realtor Association says that the real estate market has hit the bottom. In national forums all over the country, realtors are reporting multiple offers on properties for sale. We are seeing less problems with appraisals and banks lending money now to builders, companies, and individuals. The real estate market has not made a full recovery as to value, but prices are coming up slowly in many areas of Charlotte metro- but not all areas.
It is a good time to buy your home. The interest rates are the lowest that I have seen in the 16 years that I have been selling real estate. There is adequate inventory in the first time home buyer market. I would encourage you to work with a realtor to get the best deal possible for your circumstances. Steele Creek has some houses that are very reasonably priced. The challenge in that area is noise from the airplanes flying overhead, so I suggest that you visit the neighborhood at several times of day to see what it is like- some neighborhoods are affected more than others. I would be glad to work as your buyer agent.
Wishing you success,
"Personally" depends on the person and the circumstances. Prices have been down, rates are at all time lows, many markets are very hot right now and are getting multiple offers on well priced homes.
If your circumstances are stable, well employed, have some down payment saved up, planning on staying 3-5 years or more it could make good sense to buy.
No one knows what tomorrow will bring. There are voices saying double dip recession and others saying things are stable and improving. Time is your friend regardless of which is correct. If you need a place to live and can qualify for a mortgage without giving up on everything else, take a good look at purchasing.