What Are Buyers Waiting For?

February 28, 2011

Here we are at the last day of February 2011. Anecdotally, there are many folks out touring open houses, checking the Internet for properties, and telling real estate agents that they are "thinking about buying this year". So - what are they waiting for?

Perhaps they have not yet seen their dream house. Perhaps they have a house they must sell first. Perhaps they are waiting for the media to say the housing market is rebounding. Whatever the reason to delay, it might prove to be a better decision to become serious now.

There is much discussion about changes coming in lender rules. Perhaps more down payment will be required. Perhaps better credit scores will be required. And perhaps prices will stabilize and sellers will be less willing to negotiate.

There are many very good buying opportunities in our local Inland Empire markets. Have a serious discussion of the pros and cons of making a move now.

The next few months could easily be the best time this year to buy a house. In the Friday/Saturday edition of the Wall Street Journal this weekend there were several pieces suggesting that prospective buyers should check out their local real estate markets. Good advice!