04-18-2011 04:39 PM
When is the best time to buy? I always tell my clients that the best time to buy is always "now", whenever "now" is. The reason for my response is that the only thing we know for sure is what the market is showing us now. Historical data may be a help, but we really can't predict the future, especially with our current economic situation being so tenuous. Right now, interest rates are low, properties are plentiful and low prices continue to make home ownership more affordable. Although it may be more difficult to get a loan, once you are qualified for a loan or have the cash to buy (cash is still king), the good deals are out there for you right now.
If your question is what is the best season to buy, my answer still holds. Where are you living now?
You may be holding off until the market gets better or until it hits the bottom. The problem with that theory is that the only way you know when the market has hit bottom is when it goes up again and then you've already missed the bottom.
Are you planning to buy in Arizona in the near future or just in the gathering information stage? Will you be a homeowner here or are you an investor? Remember, the more I know about your wants and needs, the better I can help you.
04-20-2011 09:55 PM
I'll keep this short and sweet. The market is not going to pick-up for at least another 2 years. Plenty of realtors here ready to take make a commission with no conscience at all (one of the factors why we're in this mess).
The federal reserve in running out of time and with inflation looming (look at commodities for this forecast), the interest rates are going to go through the roof close towards the early 80's debacle quickly. If you have cash, hold out another year. If you have enough for a down payment, then buy now.
04-20-2011 11:21 PM
Here is an article from Today's Arizona Republic about what is going on in Phoenix real estate market this recent month:
If you are looking for investment opportunities, it's more important to find the property that provides positive cash flow, has a good cap rate and gives you more value in cash on cash return.