What are Purchaser’s Waiting For?

I’ve heard it many times…I’m waiting for the right time to purchase a home. What constitutes the right time? Well I suppose it depends on your wants and needs. If you are purchasing properties as an investment then taking a chance on market conditions is what you do. You take the gamble that the market will continue in a downward swirl and that the rates will remain low. That’s ok for investors as they do not have to purchase a home in order to live there.
However if you are looking for your home taking that gamble can cost you in the end. I sometimes wonder what buyers are waiting for? The rates are great, homes are on sale and there is a tax credit available not only to first time home buyers but to all buyers! (There are restrictions). Will these above situations continue? We know the tax credit ends next year, which is only a few days away everyone! You must be under contract by April 30th, 2010 to take advantage. The housing sale may last in some areas but I can tell you we are already watching market values rise in our particular area. Chances are next year they will continue to move higher. Interest rates are great right now and no one knows where they will be in the coming months.
No one has a crystal ball. However taking into account the current market values, the great interest rates and the opportunity to obtain a tax credit now is a great time to purchase. Don’t miss your opportunity you may be regretting it later. Remember as quickly as the media began reporting the turmoil in the Real Estate World is just as quick as they can start reporting a rebound. Don’t miss your opportunity to be a homeowner due to making a decision at the perfect time…this may very well be the perfect time!