April 21st, 2008 8:15 AM by Lehel Szucs
Thinking Points For Buyers
The doom and gloom you're hearing about in the mass media should not affect your decision to act if you are ready, willing, able, and eager to do so.
Prices may still go lower, but as soon as they hit bottom, they will rebound with a vengeance, quickly wiping out any advantage you might gain by waiting.
Right now, you have an unusually wide selection of properties to choose from, including those owned by people highly motivated to sell immediately.
With so many potential buyers holding off, you have a much smaller number of people competing with you for the available properties.
When the turnaround comes, those "waiters" will be your competitors, making your offer less attractive to those selling their homes.
Financing is still available at historically low interest rates, but are sure to escalate when activity resumes at more normal levels.
Even if you SHOULD pay a little more than you would if you actually hit the "bottom" of the market, normal appreciation would make the difference irrelevant within a few short years.
If you as an individual ARE ready willing, able, and eager to make a move, the time for action is NOW!