Quote:
Originally Posted by Burninator
So as a potential first time home buyer, when will be a good time to buy? Now? 6 months? A year? more?
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I think the last few months have been a fantastic time to buy. There have been lots of people in fairly desperate situations that have to seel their homes. You can get some fantastic deals from some really motivated buyers.
Some speculators might be in a jam, people who have built a house and need to get rid of their old place, situations like that were all over the place in the last few months. The market is starting to balance out but if you have a good realtor and look carefully there are some fantastic deals available out there right now.
I would reccomend buying as soon as possible if you are renting. Your throwing your rent away. Even if the market stays where it is at least you are paying into your own equity.
As a general rule Fall/winter are good times to buy as it is more of a buyers market. Less people buying means more time to look and sellers are genrally willing to negotiate on price. Spring/early summer are more of a sellers market as there are more buyers in the market increasing your competition.