“Hi Gary. My wife and I want to buy a home here in San Diego. Weve been sitting on the sidelines, watching the market, watching what prices do. Were really seeing much cheaper prices on homes lately. Do you think the timing is right to buy a home now?”
***ANSWER:
Excellent question, and probably the most common one people ask me.
Now lets first lay my cards on the table. No secret to you that Im a full time Realtor, (not just a guy who writes newsletters). And, whatever the market, the mantra of everyone in the biz is that its always a great time to buy a home.
That being said, I DO think its a pretty darn good time. Heres why:
1. Prices are DRASTICALLY lower than their late 2005 peak, down by 5% to 20%. So if you ignore the unrealistic sellers trying to sell for 2005 prices, you can find some great deals.
2. Many sellers will pay your closing costs to help you buy their home. Were talking $5,000, $15,000, even $20,000 in savings.
3. Weve seen a clear jump in activity since November. I now get multiple offers on 1 of 4 homes I list. While this has not pushed prices up (good for you), this increased demand is supporting prices and may signal that weve hit bottom. And isnt that the best time to buy.
So theres my only slightly biased answer to your question.
