For quite some time now the News Media has managed to report mainly the doom & gloom of the housing market, even thought the true picture has been changing right before our very eyes. Some of you may have noticed but for most the news is passing many people “right buy”.
Now, just in case you are wondering, that was not a typo – I said “right buy”. See most everyone has realized that RIGHT NOW is a lousy time to be a seller but a great time to be a buyer. That fact still holds true in my opinion but for how long? I talk to people everyday who are out there that know they can buy but they are waiting for that one sign that helps them take the next step.
Maybe this will help; Sellers once listed their homes in droves all based on the mindset “well, let’s just list it for what I want & if it doesn’t sell I am good with that – I am not in a hurry” well, they are changing their perspective. Those sellers have realized that you can’t compete with the almighty bank unless there is more of a level playing field. Banks are a home seller’s biggest competition because they have lots of unwanted inventory now.
So, Sellers are making a stand of their own taking their homes off the market. Go pick your favorite community in Charlotte and drive down the tree lined streets this weekend. How many “For Sale” signs do you see? How many where there this time a year ago?
Well, put it this way…if you have been on the fence about buying – you better jump off and go find you a place pretty soon. When there are fewer homes on the market Sellers can demand more in great locations. This is a convienence that they have not be able to see light of for a very long time. Yeah, overall prices may drop a little bit more over the next year but if the banks moderate their inventory into the marketplace then prices will begin to stabilze.
So, when is the right time to buy? “Here is your sign”!