Many home buyers are concerned with the current market downfall. However, all the market fundamentals show that now is a good time to buy – prices are down, interest rates are affordable, there are lots of homes to choose from and you can bargain with sellers.

If you try to wait and time the market until it hits rock bottom, you are likely to lose out. Just as no one can accurately predict the peaks and valleys of the stock market (name one person who sold their tech portfolio in April of 2000), the same holds true for housing. If you sit on the fence and wait for the absolute best deal, you could end up literally waiting for years. And most likely, your guess on market timing would be wrong. But if you choose to buy now, you will not only be in the driver’s seat during the buying process, you will also reap the gains of price appreciation once you become a home owner. Remember, those who purchased homes in the early 1990s during the last big economic and housing downturn came out as big winners.

The fact is the economy is still solid. After expanding rapidly over the past couple of years,

economic growth is moderating – and this is actually good for housing. Most economists predict

that overall GDP growth will average about 2.5 percent for the rest of the year. That means that

job growth will continue to move forward at a pace that should not trigger higher inflation rates or

higher interest rates. This period of moderate economic growth, job creation and low inflation,

coupled with a true buyer’s market where there are plenty of homes to choose from, makes this an ideal time to purchase a new home.

One of the most important decisions a home buyer can make is by getting their mortgage through a loan officer that is not their real estate agent as well. Also, you should shop around different mortgage companies months in advance so it does not interfere with your home closing.

Best of luck in your search for a new home!