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Now is the Time to Look and Buy
Housing prices have fallen to levels not seen since 2004, interest rates are still low but creeping up steadily and inventory of modern homes in all price ranges is high. Anyone who has been sitting on the sidelines wondering when to buy, now is the time to start looking again. Finally, there is hope again on the housing horizon. There are so many possibilities out there that we have not had time to post everything we have seen that is great.
We have been waiting for years for this turnaround in a too-long overheated market. Of course, for home buyers, the best policy in any market is to buy what you love and can comfortably afford in the best location your budget can handle because the market is cyclical and you may need to live in your home for years to come. Make sure the house and you are a good match and that the location and area is good for resale should you need to relocate.
Hopefully the market change will mean more homes will be sold to people who intend to live in them rather than "flippers" looking for a quick profit at the expense of those who are looking for homes to live in that are affordable. It is in everyones' interests to have homeowners actually living in the homes they buy.
We have seen first hand how communities come to life when new homeowners move in and contribute to the fabric of their neighborhoods. It is the kind of organic change and development that happens when people actually live in and maintain/improve the homes they buy and have a financial stake in retaining their homes' value.
After years of absurd price run-ups that bore no relation to incomes and affordability, the market is returning to some semblance of reality. Now is a great time for buyers to start looking for a place to call home.
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