Well folks you've heard it over and over again, Now is the time to buy.
According to NAR president Vicki Cox Golder, “Inventories have steadily declined and are closer to balanced levels, which indicate home prices in many areas are either stabilizing or could soon stabilize and return to normal appreciation patterns,” she said. “This means buyers still have good choices but are purchasing near the bottom of the price cycle with historically low mortgage interest rates. Throw a tax credit on top and it really doesn’t get any better for buyers with secure jobs and long-term ownership plans.” A very important thing to remember is that we don't know when we "hit bottom" until it has hit and prices rise, so don't miss the boat!
You can get more for you buck according to housing researcher Global Insight, which found housing values were about 10 percent undervalued, based on a model that examines interest rates, household incomes, population, and historical price patterns.
According to a study by Local Market Monitor for Forbes magazine, on average, housing markets on the West Coast lost the most value – 21.6 percent since their peak. Florida lost 31 percent. The Northeast lost an average of 8.6 percent, and the Midwest on average lost only 5.6 percent. Check out my FEATURED PROPERTIES!!!
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