Realty Ambassadors

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Samir Rafeedie

Market Update

Are you seeing it? I am. There are more buyers coming out of the woodwork now that home prices and  interest rates have dropped to near record lows. Some are finally realizing it's cheaper to buy a home than it is to rent. Many people have had to face the unfortunate situation of losing their home, either to foreclosure, or have had to sell their home on a "short sale" ( see article "What is a Short Sale" to learn what it is). as a result they now have to rent. Investors are finding rental rates are going up so they're buying investment properties. This will soon cause home values to start climbing again. No i don't expect to see prices to shoot through the roof like they did in 2004 and 2005 but before long we will start to see a bottoming out of home prices and then values will begin to climb. Where will you be when that happens. I hope you're not sitting on the sidelines watching. This is the time to get into the market. If you have reasonably good credit, 620 FICO score or above, you may be able to buy now. Don't wait.
Published Thursday, April 16, 2009 8:56 AM by Realty Ambassadors
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