Still sitting on the fence wondering if NOW really is the right time to buy? Have we hit bottom yet?
NO, now is NOT a good time to buy real estate....NOW is a FANTASTIC time to buy real estate in Greenwood, SC or wherever you live!
I read an article today and it seems there's even more reason to buy NOW. It is predicted with some pretty "point on" statistics that rent hikes are coming! In many areas the rental vacancy rates have dipped below the 10% mark where it had been for several years. With so many people losing their homes there is going to be a bigger demand for rentals 'and it has already started' said Peggy Alford, President of Rent.com. It is predicted that by 2012 rental vacancies will be as low as 5%. With fewer units on the market prices will most certainly increase. It's basic supply and demand. When prices of rentals increase and the demand is too great to fill....it is only logical that housing prices will follow suit.
Interest rates are still low and yes, it is a buyers market. There is a large inventory and there is no better time to take advantage than NOW.