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Does it make sense to postpone home buying plans till next march?

How will the election impact real estate market.
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October 16 2012 - US
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Great question!  Some claim that election years bring either higher or lower values after the election.  However, it's one of those issues that nobody can predict.  If I could predict the future market trends, I'd be really rich!  One topic that I've heard "buzz" about recently is that a shadow inventory (bank REO properties that have been withheld from the makret) will be released after elections and will flood the market, bringing our inventory up and possibly causing prices to drop.  Of course, we have no way to prove this.  However, if you wait until March, you could potentially enter the spring selling season with more properties to chose from and with more standard sales from "regular" homeowners who plan to market during this time. Another aspect to consider is whether or not you need the tax benefit of purchasing a home due to possible income increase and this should be discussed with your CPA and/or financial advisor. 
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October 16 2012
I think this video will help answer your question.  (hotlink deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines)
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January 30 2013
This year especially looks to be a great come back year for real estate.  While every market is different, many cities and states across the country are already reporting higher sales y/y and m/m and have seen a steady increase in listings, contracts and closings.  March 2013 may prove to still be a great time but it is hard to say where things will be then and where interest rates will be.
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October 17 2012
Election is not going to have such a great impact on prices. Depending where you are buying, March next year might be a perfect momentum. However don`t overwait it, prices tend to go up after the winter plus there is a lot more competition(buyers). So, i`d say, don`t wait, just find a great deal(steal) and buy now.
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October 17 2012
Elections don't matter - half the voters are pleased, and half won't be.
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October 17 2012
The election won't affect home prices any more than it will the price of your bacon cheeseburger, or the price of gas. The markets, those dealing in paper not homes, often have a short term affect, but in terms of purchasing a home, if you think the election might change your chances in the buying market, then you probably believe the nonsense that comes out of the presidential candidates, which might indicate your not ready to take on the responsibility of owning a home.

I can see the time come when your future roof needs fixing, and instead of taking care of the spreading leaks, you tune in to FOX news, hear that China is cornering the market on roofing materials, gold might be dropping in value, and it's best to get your hands on some choice nuggets that will increase in value within two years, and then you can get your roof fixed at a substantial discount.

I did hear the election might affect the rental market though...
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October 17 2012
Next March is better than never. This is definitely time to accumulate as much Real Estate for your family as possible. Low prices and low rates mean great investment. Don't try and play the Real Estate market like the stock market and you'll do great.
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October 17 2012
What are your reasons for waiting? In many cases buyers wait because they aren't financially ready (i.e. need to improve credit score, want to save more for a down payment or want to get more time a a current job). In all those cases I say yes, wait. The only reason I wouldn't wait is if you've found THE PERFECT home and you don't think it will be around in March or you don't think you'll find one like it. 

If you're waiting for a non-financial reason, like you're busy right now, you don't want to move around the holidays or you just aren't finding the home you like...then you could wait but still keep an eye on available homes. You may be able to get a slightly better deal during the winter as the market tends to slow and folks that MUST move at Christmas will be motivated. The market starts to heat up in the Spring and buyer competition may be more fierce, however there might also be more homes to choose from. 

Best of luck! 
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October 17 2012
The question should be "do I want to move before the holidays or in spring?" 

Regardless of who wins - a monumental change one way or the other by spring is unlikely. 

If you want to shop for a home now, by all means get out and do it.  If you would prefer to wait until winter is over - that's fine too.
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October 17 2012
See, the problem with people waiting and planning to buy their first home is that they do not exactly know when will it make sense to enter into home buying. It is always risky and that changes will happen sooner or later, whenever you bought your home. Elections may bring in some higher or lower price but the fact that you could still opt to buy now, or next year. Depends solely on how you view your market.
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October 17 2012
I also want to point out that you wouldn't want to miss out on the amazing financing options. Rates are at a new low, now is the time...2.64% on a 15 year fixed??? Unheard of! Good luck to you!
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October 16 2012
 
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