As soon as the media finds their next hot topic you will begin noticing that people really are still buying homes.
Don't start house hunting until you seriously consider how much you can afford to pay. A little advance planning will save you time and money later, because you won't bid on unattainable houses or apply for loans that are out of your ballpark
Look for someone who you feel comfortable with, is experienced and that can show you a valid license from the Department Of State, not to pushy or overwhelming but concerned of what your needs may be.
There are many ways to seek out a property, Internet, Home finder most Real Estate related magazines News paper, the most efficient way is to find a professional this makes life a lot more enjoyable.
Marriage, divorce, birth, death, job transfer, & tax planning, are still happening. These people still need to buy homes. Each home that sells means at least 3 families are moving. The seller is moving out and into a home where someone is living now. The buyer is moving into the seller's former home. Someone is moving into the place the buyer moved out of. and so on.
The inventory of homes has been at a very high level. Some owners of vacant homes R beginning to consider the fact that rents have increased, & R taking their "empty" homes off the MKT. Some owner occupied homes are also being taken off the Mkt. These sellers that do not have to sell & are able to wait. Likewise, there are property owners that were considering selling their home & R now choosing to delay listing until "better times"
Lower supply & higher demands will firm up home prices. The media will take notice again & will report on the price gains. Potential buyers will regain confidence. One more house will sell which will allow at least 3 more families to move. More often the move will be to purchase instead of rent, & the wheels of the housing market will turn faster & faster.
Everyone wants to know: when can we expect the housing sector to get back to normal? As the housing Mkt. recovers, both 1st time & repeat buyers will gain more confidence in the housing sector. As this happens, inventory will be kept at or slightly below Mkt. demand, & this in turn will balance & spur additional increases in home price appreciation.
Brought to you by Verrazano Brokerage.