Dec. 14, 2007 - Waiting for the Perfect Time To Buy

There was an article in the Daily Courier Real Estate section today entitled “Mortgage Rates Rise Disappointing Would-Be Home Buyers”. The article says that interest rates increased this week from 5.96 to 6.11. 5.96 are the lowest rates have been in two years.

Today’s buyers seem to be completely paralyzed as they wait for that “perfect time to buy” which they seem to think will come and be clearly recognized. What are they waiting for? Well, the lowest price and the lowest interest rate. These two items very rarely coincide and how do you know what the lowest price is? You know it when the prices start to climb. It’s all hindsight. Right now interest rates are low and most sellers are willing to negotiate. Do your homework by finding an area that you love, get a good mortgage broker to find you the loan that fits your circumstances and make an offer. Five years from now we will look back on this time as the best Real Estate market for buyers that we have ever seen. That is the perfect situation.

Dec. 14, 2007 - RE: Waiting for the Perfect Time To Buy

Thanks for the very insightful article, as a current real estate investor I find that awareness and home work regarding any current market is necessary in order to make the right decisions, hindsight added to $3.75 will buy you a Latte at Starbucks, so if you are serious about owning a home think about do diligence, right now is an excellent time to buy if your research has been done,

James Goins

Goins Construction and Development Co.