How’s real estate?

| Friday, August 27th, 2010 | No Comments »

At least once a day I get the question “How’s real estate?” Today I was asked three times and its only noon! My answer lately is usually something referring to the fact that it’s a great time to buy. And it is. Rates are historically low (average mortgage rates hit a low of 4.42%) and home prices are definitely not rising.  But right now buyers aren’t stepping up to the plate and home sales are falling.

The termination of the tax credit and the struggling economy and unemployment rate are large contributors. Also sellers are skeptical about selling because they’re afraid they won’t get top dollar or their homes will remain on the market longer than in past years.  But if you are looking to buy, now is the time.  Even if you have to sell a home first, you are likely to make up the difference of your sale by buying a home at a discounted price. So c’mon buyers, grab your bat and step up to the plate.

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