Almost every day a buyer asks me if it is a good time to buy a new Vancouver Washington home. Everyone is concerned about making the right choice and they feel that timing the market is a big part of that. My answer never waivers:
How To Recession Proof Your Home PurchaseIt is always a good time to buy as long as you are buying for the right reasons. People who bought for the wrong reasons are a huge part of the reason for the recession that we are currently experiencing. Their only motive was profit and they bought homes that they didn’t really want to live in. The market dropped and the huge payday that they had dreamed of simply disappeared.”
So what are the right reasons? As a buyer, I would encourage you to buy a home that you like and can see yourself living in for the next 5 to 10 years. If you buy for the long term, then you are less likely to be forced to sell in an unfavorable market. If the market dips a bit, just sit tight for another year or two. You loved it when you bought it, so what does another few years matter?
Interest rates are at an all time low and there is a huge inventory of homes on the market. Many of the foreclosed homes are now coming back on the market as bank owned homes and they are being sold at heavily discounted prices. Mortgage companies are freeing up funds to help people take advantage of these awesome deals. If that isn’t enough, the Feds are gving an $8,000 stimulus package for first time buyers. There is absolutely no reason why you shouldn’t be looking for your new home right now.
Please call today and ask for a special list of bank owned starter homes in Vancouver Washington. Ask about our first time buyers’ program and let us help you find your first home.