Sunday, May 06, 2012
Is NOW the right time to buy a home?
If you are trying to decide if now is the right time for you to buy a home, consider these recent real estate-related news stories:
1. Interest rates are at an all time low. Read: MSNBC: 30 year Mortgage Rates at record low
2. Home prices have possibly hit the bottom. Read: CNN: Buying a home won't get much cheaper
3. Consumer confidence is in positive territory globally. Read: Consumer Confidence Gains as Taiwan, U.S. Rise in Nielsen Survey
4. Job growth points to a pull-back in the economy. Read: Bloomberg: Job Gains Trailing Forecasts Add to U.S. Slowdown Concern
5. Do you value the investment advice of Warren Buffett? Read: Warren Buffett on CNBC: I'd Buy Up 'A Couple Hundred Thousand' Single-Family Homes If I Could
6. An investment analyst who was previously negative on the real estate market claims now is the time to get back into the real estate market. Read: Time to start buying houses again in U.S.: Pimco
7. March home sales were up over last year. Read: National Association of Realtors: March Pending Home Sales Rise, Market Recovering
8. Housing affordability index hits record high. Read: National Association of Realtors: Housing Affordability Index Hits Record High
9. If you want to buy a home, can you buy a home? The ability to obtain financing is affecting the market and still remains a sticking point. Read: Los Angeles Times: Home loan demand rises, but credit standards remain tight
While no one can predict the future, and until time passes, we won't know if these real estate stories are wishful hype or educated predictions. We feel there are more positive signals in the real estate market than we've seen in a number of years.