Is it a good time to buy a home? Many real estate experts say if you are looking for an expensive home now is not the time to buy. The reasoning behind this the prices will continue to fall in this economy. Some investors who have bought in affluent neighborhoods thought they had a bargain but prices have continued to fall and they now wish they had waited for the market to tank.
As an investor there are bargains out there if you buy in the right neighborhood. For example I have seen prices as low as $15,000 on a small efficiency condo and $44,000 on a three bedroom two bath home in the suburbs. If unemployment continues to rise the price of housing will continue to follow.
If you are searching for bargain you must look at the big picture can I purchase this property and make a profit on it as a rental or by flipping the property for a profit. You must research the property extensively to determine if you are getting a good price. Be sure to use a reputable real estate agent as they can keep you informed of the market prices and direct you to the property that surely is a bargain. They will also be able to run comparisons on the property in the neighborhood of where you would like to purchase. Good luck in your search there are still bargains out there.
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Thursday, September 29, 2011
When To Buy
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