We have all seen the headlines:
"Foreclosures Increase 93% Over The Past 12 Months."
"Interest Rates At An All Time Low."
"Freddie Mac Sees Housing Continuing To Tumble."
"Home Prices Drop Fourth Straight Quarter."
The only thing for certain, to quote leading business consultant, Tom Peters, "If you're not confused, you're not paying attention!" Don't worry Tom, we are definitely paying attention, and drawing from the mixed messaged headlines above - we are definitely confused!
So, I ask the million-dollar question that is on everyone's mind: Given the current state of today's housing market, is now a good time to buy?
Well ... according to Jim Cramer's, host of Mad Money on CNBC, controversial interview on The Today Show, it is not a good time to buy. Cramer shocked America and I am sure received several threats of bodily harm from realtors across the nation when he warned viewers, "Don't you dare buy ... Don't you dare buy now. You will lose money."
Liz Pulliam, author and personal finance columnist for MSN Money, seems to agree with Cramer. In her blog A Home Buyers Market? Hardly! Pulliam states that today's homebuyer needs to have nerves of steel - placing blame on tumbling home prices, stiff credit standards, gun-shy lenders, and spooked appraisers.
Yet on the other hand, others such as Jason Mook, a Windermere realtor, disagree with Jim Cramer. Just check out Mook's blog, Jim Cramer Told Me Not To Buy a Home, and My Mechanic Told Me I Need A Colonoscopy.
The National Association of Realtors also agree, having recently launched a national "Buy Now" campaign stating that with interest rates at an all time low, a large inventory of homes available on the market, and the fact that real estate continues to remain the best investment available - now truly is the best time to buy.
So who is right? Still confused? Just remember, as long as you are buying the right home for you, at the right price, and on the right terms - it's always a good time to buy, no matter the state of the market!
Stephanie Sturzinger is the Director of Sales and Commercial Leasing Associate for The Coral Company.
An individual or family should take advantage of opportunity when it appears. Housing prices and interest rates are down. If you find something you like sieze the opportunity.
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