Is it a good time to buy?

Is it a good time to buy?

I frequently get asked that question. I was asked the same question in 2006, 2007, 2008 as well. My answer has always remained the same…it depends. The question is more than a timing issue for most people. The fundamental question you need to answer first is “why do you want to buy now?” If you have a change in family size, change of employment, change in income, or if you are seeking a new neighborhood; then perhaps there has never been a better time to buy a new home. If you are merely “speculating” that today’s low prices mean a future equity bonanza then I would suggest investing in the stock market and staying where you are while you do some more research.

Homes are different than housing. Your home is more than an investment or wealth vehicle. It should be a stable environment from which you and your family can find refuge from the stresses of the outside world. A home is a sanctuary where you can live your life in pursuit of the “American Dream”…the home is not the “American Dream”. The freedom and pride of living in your own home is the dream. The home does not come furnished with good or bad “karma”…you bring yours with you when you move in.

I thought it might be helpful to look at this moment as an ideal time to do some research. If you are armed with the facts you can better determine whether it is a good time for YOU to buy. I have assembled some recent links from various sources. These links can help you sort out your goals, answer some questions and allay some of your fears.

At Lakewood Homes we want to help you buy your new home. We can help you gather the information you need…

>How to sell your current home in a challenging market
>How the new changes in mortgage lending will affect you
>How to improve your credit to take advantage of today’s phenomenal rates and prices
>What benefits are available to first time and re-entering home buyers
>How much home you can afford
>And more…

We can help you answer those questions. We look forward to assisting you as you answer the big question…

“Is it a good time to for you to buy?”

Check out these sites for some great info...

NY Times article on the new rules for homebuying (they look a lot like the old rules).

Homebuyer FAQ'S

How much home can you afford?

Monthly costs plus mortgage calculator

Monthly payment mortgage calculator

CNBC Spring Home buyer’s guide

CNBC's RealtyCheck Blog

Here is a snipet from CNBC this morning talking about the improving housing data...