The would-be purchasers of real estate in this country are being bombarded with opinions by the print media: newspapers, magazines, etc. "Inventory is up; sales are down. Where are prices headed?" Are you personally "on the fence" about going forward with a purchase of property? Here is what the National Association of Realtors (I am a member, btw, and more on what that means on another day) is saying this week:
http://img.realtytimes.com/rtimages/blanche/$file/narfactsheet.pdf
In short, YES, this is a great time to make a purchase. Mortgage money is still a bargain, the inventory levels are still high (i.e. there are many properties to choose from, giving you a better chance of finding the property of your dreams), and sellers are anxious to negotiate a contract. This does not necessarily mean that the negotiated price of a property will fall way below the true market value; but if a seller is facing a stressful situation of carrying multiple mortgages or simply wanting to be out from under his/her current property, the buyer can sometimes really find a bargain.
Buyer representation is my specialty. I always work to get my buyer clients the very best possible terms in their contract to purchase a home. I consider every good contract a personal victory for me, not just my client.
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