Is now a good time to buy a home?

Your real estate should be able to explain why now is a great time to buy real estate. Here is a great article discussing the importance of why a LISTING agent needs to understand why now IS a great time to BUY and WHY it is important to a SELLER.

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February 08 2011 - Aurora
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Profile picture for Dunes....
I believe this is the First time in the History of Zillow that an RE Agent has posted the Question "Is it a good time to Buy" just so they could answer it themselves and explain that  "It's a good time to buy"
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February 08 2011
My dad used to say, 'When you see newspaper articles about companies hiriing, THATS the time to buy......'
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February 08 2011
Profile picture for Pasadenan
Remember the movie "The Day After Tomorrow"?

With all the "climate change" in the north eastern states, and the roofs collapsing due to ice and snow...

It must be "a good time to buy" in Mexico...
But who can put up with all the murders due to U.S. demand for illegal drugs?
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February 08 2011

When planning to buy your home, I would worry less about timing the market (i.e. "Is now a good time to buy?") and, instead, focus on the following:

1) Can my monthly budget "afford" the estimated mortgage payment?
2) Do I have 3-6 months of expenses saved in a "rainy day" account (in case of job loss - above and beyond a down payment)?

Certainly, there are a plethora of different analytics and criteria if you're making a real estate investment decision.  However, on a macro-level, if your answer to the 2 questions above is "yes" then you are well on your way to home ownership, in my opinion.

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February 08 2011
Real estate investing is speculative much like the stock market or commodities. It is impossible to predict with any certainty what this investment may gain or lose with accuracy. If your stock broker tells you it is a good time to buy Tyco, dies he really know that their accounting is made up? Or just because real estate had been growing in value for 15 years, would that have made 2006 a great time to get in? As Forrest Gump reminds us, real estate is like a box of chocolates, you never know what you're gonna get. Also, salesman is as salesman does.
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February 08 2011
Profile picture for the_country_hick
All NAR talking points in your blog. If I wanted to spend 5 minutes I could put down about every point made.

Low prices now? Think again.
Peter Schiff: Here's Why Home Prices Have To Decline At Least 20% And Probably More

Going from 5% to 7% interest rates a whopping 2% increase will remove 23.7% of buying power. That alone will effectively turn a 5% $200k mortgage payment into a $153k 7% mortgage payment like magic. House prices will have to decrease to meet that new fiscal reality.

When sales dropped by 23% from last year if they increase a little it is still a terribly slow sales statistic. What is it now 1997 levels of sales volume?
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February 08 2011
Yes, espectially in our area of Cocoa Beach, Cape Canaveral, Satellite Beach, Indian Harbour Beach, Merritt Island, Indialantic, Melbourne Beach!
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February 08 2011
I agree wit Dunes. Why is an Agent asking if it is a good time to buy. I am a Broker and I feel like it is a GREAT time to buy. It is good for buyers and not as good for sellers. Buy Now I say.
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February 08 2011

Low rates and relatively low prices amounts to a great buying opportunity. If you have a good steady job, and good outlook on future income, then buying now will pay huge divendends in the future. I just bought my 3rd rental and expect to have it paid off in 15 years. Go for it. We are in a period now that in 10 years we will have wished we were more bullish on this great buying opportunity.

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February 08 2011
Ugh!
I really can't express my reaction to this "question" any better than that.
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February 08 2011
I couldn't be more optimistic about the real estate opportunities today (especially in my market here in Colorado). The content of the article that was removed posed an interesting point that someone listing a home for sale should carefully interview a real estate professional for the job. The title of this discussion is merely a lead in to the content (link was removed). Will keep the discussions about third party content to other forums. 
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February 08 2011
Todd, with all due respect, if you have spent any time on these boards, you have to understand the repetitive nature of this thread.

Feeds beautifully into the stereotype of the sales agent hawking their wares, without any consideration or care for the impact that they sale will have on the buyer.  After all, its all about the paycheck, right?

How's this for an idea:  instead of repeating the same old tired "great time to buy!" mantra, lets stop being salespeople trying to convince people to buy and lets start being knowledgable, educated, professional people who provide a great service.
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February 08 2011
Profile picture for Dunes....
"lets stop being salespeople trying to convince people to buy and lets start being knowledgeable, educated, professional people who provide a great service."

By Golly I think that's a Splendid idea....
Don't know how that idea will fly with Realtors but the Public without a Doubt would appreciate and respect that kind of approach IMHO..

Might improve the image a bit...bring a few potential leads/Consumers out to the Beach if they no longer have to Dodge the Buy Buy Buy waves of the Spam Ocean

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February 08 2011
Profile picture for SteadyState
Dunes -
It's a lost cause. Except for two agents on this thread, every agent lacks reading comprehension skills leave alone the skills necessary to do a sould quantitative analysis on the pros and cons of buying vs renting.
It's a lost cause.
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February 08 2011
This is as good a time to buy as we have seen in the past, or possibly may ever see for a very long time come.
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March 01 2011
Have you got any facts to back that up, or have you been to the future so you can tell just what happened in real estate between 2011-2020?
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March 01 2011
I am beginning to see market improvement in many sectors.  I have a feeling that fence sitters are going to look back in a year saying, "I wish I would have bought sooner."
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March 17 2011
 
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