Now is a Great Time to Buy a House

Now that the holidays are over you may be ready to get into a “new” home, and the timing couldn’t be better. By now many homes have been on the market longer than normal and sellers are ready to sell. And if you haven’t heard yet, the Fed really wants you to buy a new house. They have dropped interest rates to 3.5 percent. This is their first unscheduled rate cut in almost 6 years and their largest in 25 years. Many people have already started looking.  So now is the time to make that move and find a great deal.

3 responses to “Now is a Great Time to Buy a House

  1. Couldn’t agree more. If you have the capacity for a down payment, good credit, and a solid income stream, now is an excellent time to look at buying. Even with the impending bailouts, banks are needing to divest themselves of risky assets. They likely don’t want to take any more chances with the housing market and will want to sell to solid buyers that can take on a failed mortgage. It may seem counter-intuitive since consumers rein in during bad times, but there are certainly good deals to be had.

  2. So, here we are almost a full two years after you wrote this post and I’m curious; was it in fact a great time to buy? I’m not being sarcastic I truly want to know. I’m a full time real estate agent in Phoenix specializing in the sale of lofts and high rise condos, a very tough and beat up niche. I believe that interest rates are about to climb and that we are at or very near the absolute bottom of prices. But then again, if rates jump significantly we might see prices drop further. I applaud you for making your prediction two years ago. Were you right…were you wrong? W

  3. All I have to say is hindsight is 20/20. I agree with Will that rates are probably going to be going up in the near future. I think some people who bought a home in 2008 in the right area probably did OK but Phoenix for one has been hard hit over the past 2 years.

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