When Should a First Time Home Buyer Buy a House?
First Time Home Buyer Tips
Home Buyers are asking the questions:
When is the Best Time to Buy a House?
When is the Best Time to Buy a Condo?
Do you feel like this donkey and wondering what the right answers are?
Are you confused and wondering if you will buy a house or condo at the wrong time?
Do you think you will get stuck and pay too much for a home or condo? Do you think the Real Estate market will go down more?
These are just a few of the many questions that Home Buyers today in the Sacramento area are asking and wondering. The big question is, when is the BOTTOM of the Real Estate market? Does this happen often?
Think of donkey tails. One side is going down and one side is going up. No one REALLY knows when the bottom is the REAL bottom until real estate prices change and start going UP. That’s when everyone will be an expert and say, the Real Estate Market has changed… last month was the official bottom of the Real Estate Market. By that time you, the home buyer have missed the bottom.
You can’t pin the tail on the Bottom of the Real Estate Market until it has passed!
Now, most of us in the Real Estate profession know when it isn’t safe to wait because if you wait too long, you miss the boat!
So, if you are a first time home buyer, do you want to wait until prices go up?
First Time Home Buyers, remember you won’t know until the Real Estate market has actually gone up for a while and then you missed the greatest time a home buyer could ever have, the bottom of the Real Estate market! Don’t worry you aren’t buying at the top. The top has been over for quite some time, now.
When a home buyer buys a house while the real estate market is in the down position, it is considered a Home Buyers market.
This is when the price is the best. The Seller sometimes gives money toward your closing costs, repairs and more. Nothing is better for a Home Buyer than a Buyer’s market!
If you think you can’t afford a house, think again. Talk to a good Lender and see if you qualify for a loan or if you need to clean up some of your credit issues. A good Lender will be able to give you some good advice on fixing your credit.
There are still some very good loans out there for Home Buyers and First Time Home Buyers. Don’t get sucked into a bad loan. Ask a professional that you trust, to recommend a Lender who can listen and properly explain loans.
A full-time Realtor®, who has been in Real Estate for several years knows quality lending professionals.
There are some great homes for sale and great buys on the market for sale right now. Don’t wait until the homes are picked over and the good ones are gone or until the real estate market heads back up or worse yet, until interest rates go back up with severe tightening on loan restrictions.
You could be in YOUR new home for the holidays think about it and if you have any questions, I'll be happy to help answer them for you. And check back here often, as I give lots of First Time Home Buyer Tips.