The Top Reasons Why you Shouldn’t Wait on the Buying Sidelines any Longer

Should I or shouldn’t I buy a home now?

That is the question many potential home buyers are asking themselves. With so much conflicting information from the media, it may be quite difficult to decide if buying is the right thing to do now. Although the economy hasn’t fully recovered, for most people now is the time to act. In other words, if you want to buy a home and you are in the financial position to do so, it may be time to get up off the sidelines, contact a professional REALTOR and find yourself your next home. And here’s why:

• Large pool of available homes – Because most real estate markets are still in recovery mode, you can expect a larger-than-average pool of homes for sale from which to choose. A larger pool of homes means the likelihood of finding the home that best meets your needs, wants and budget is greater. In other words, the task of finding a home may be much easier because of the many homes from which to choose.

• Less competition in the market – In addition to enjoying a large pool of available homes, buyers also have less competition from other buyers in today’s market. Because of this, your offer may be the only one received by the seller. On the other hand, in a seller’s market, there may be multiple offers, thereby driving up the price of homes.

• Historic-low interest rates – Simply put, interest rates really can’t get much better than they are now. Interest rates are at historic-low levels, so the buyers of today are enjoying low mortgage payments and more expensive homes. With low interest rates, buyers can now afford homes they ordinarily may not be able to purchase. In addition, many buyers are realizing that it is now cheaper to purchase their own home than continue paying rent.

• More homeowners anxious to sell – Because there is a larger number of homes on the market and less competition because of fewer buyers, you may be able to negotiate a lower price on a home, simply because the sellers are anxious to sell.