When is it not a good time to buy a house

Saturday, June 09, 2007
How come Realtors always say it is a good time to buy a house?

House prices across the nation have been on the decline as of late. (By the way, I called the top) and look to be getting worse, not better. However, according to the president of the Realtors, it is a great time to buy.

It’s a good time to buy, in part, because home buyers are not pressured to make quick decisions,” Combs said. “We’re in a window of low interest rates with a plentiful supply homes on the market and flat prices in most areas. First-time buyers now have more power to negotiate with sellers for help on downpayment or closing costs.”

Of course in 2005, when the housing market was roaring the then President of the Realtors said

Low interest rates continue to offer opportunities to first-time buyers - a huge potential market given the generational bulge and who believe that housing is a good investment. They provide a ready market for existing owners wishing to make a trade, so there is strong demand in every sector of the housing market."

So let me get this straight. It's a great time to buy when prices are going up, because you will get all the appreciation, and its a great time to buy when prices are going down, because you will get a great value. Hmm. Is it ever not a good time to buy a house? If it's always a good idea all the time to buy a house, everyone should stop what they are doing and just become land barons. Better yet, real estate agents, I mean, it doesn't look like there are many qualifications (including honesty)

If this just goes to show you that your Real Estate agent is not your friend, I'm not sure what will.


Anonymous said...

I agree about everything you say here and everything here is true.