Hey!!!! NOW …. is definitely the time to “get off that fence”.
With the economy being down for the last few years, many people have put off purchasing a home for different reasons. Jobs, home prices falling, banks making lending nearly impossible, media news reports, high gas prices and other reasons have all had an impact on the housing market.
With interest rates being low for the last few years, it is has not even been enough to convince people that its a good time to purchase a home. It depends on each individual’s situation but everyone has to decide for themselves.
If you plan on making a long-term purchase on a home, then it would be a smart decision to buy a home now. I see the tides changing before my own eyes with this market. I personally have actually been closing on sales these past few months when in the past, the market was quiet and had no pulse. The buyers in the past were either people transferring for work purposes, retirees, or the “bargain hunters” and when I say “bargain hunters” I mean SERIOUS, cut throat, real estate, savvy, business investors who know and understand the market. They know how to get exactly what they want and for the price that they are willing to pay.
Now that the tides are making a shift, I would personally HIGHLY suggest either pulling that trigger to buy now or if you are a seller, to hang onto your property. In the recent past, I had offers coming in for my personal property over $200,000 below bank appraised values and now, I have people actually looking at my some of my properties at full asking price! There has definitely been an increase in traffic …especially in Pawleys Islandwhich is where I reside.
Making constructive predictions in the current market is not easy at all. In the past, the huge uncertainty and overbearing gloominess made it all too easy to predict the end of the world as we know it. However, the one thing that the past tells us is that however stormy the current conditions, things will improve and more often than not, create significant opportunities.
Melissa
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