Rob's Rant

A lot of people lately have been asking me if this is a good time to buy a home.  The short answer is "yes".

Warren Buffett is one of the wealthiest men in the world.  He often says he misses some growth and takes some loss by NOT trying to hit the exact top or bottom of any market in which he invests.  However he saves himself much, much more than he loses.  The old phrase of "Buy low, sell high" is really wrong.  When people try to buy things that are going up, they are usually getting in too late.  And the wind up buying just before a drop.  Then to make matters worse, after the drop, they get scared and sell.  They wind up actually "buying high and selling low".

I bring this up because the people who are waiting to stop renting and buy are making a mistake, in my opinion.  It is very unlikely you will be able to hit the exact bottom of the market.  By the time you think it's time--you will almost certainly be too late.  Home ownership carries many benefits you may not consider.  These include (but are not limited to) tax deductions, better insurance rates, and higher Credit Score.  When you are ready to move again in a few years, you can sell or rent the home you own and should do well by it financially.

Sellers are motivated right now.  You can negotiate a very favorable deal with the proper advice and presentation.  I would NOT suggest you try this on your own: get a good solid Realtor to ensure you are getting what you want.  Be pre-approved BEFORE you make an offer and you will find what will make you happy.  If you wait even 6 months, the market may turn and you will not be able to get as much from the seller as you can today.  Homes are "on sale" today because there is inventory.  Once that inventory is gone, prices should rise again.

Don't miss your chance!