Waiting Until Spring Could Be Very Expensive

Over the last 30 years, many sellers have waited until the spring to sell their homes.  The logic was that demand for homes increased in the spring and therefore you may get a better price for your home.  Demand will again increase this spring.

However, the big difference is that supply will also increase this spring especially as hefty inventories of distressed properties find their way to the market.  Most experts feel that this increase in discounted properties will be greater then any increase in demand thus putting additional downward pressure on prices.  for more information on this, read http://www.kcmblog.com/2011/10/18/house-prices-where-they-will-be-in-the-spring/

If you are in the market to buy and not sell this effects you as well.  Even though prices will soften, that does not mean you should not buy now.  Remember, as a seller you are concerned about PRICE.  As a buyer you are concerned about COST.  The additional costs in obtaining a mortgage in the future may far outweigh any depreciation in value.  You may not believe me so here are some statistics from other sources that might sway you;

Forbes Magazine: The Next Mortgage Crisis
Wall Street Journal: It's Time to Buy That House
MarketWatch.com: Now Might Be the Best Time Ever to Buy a Home

JP Morgan Market Insights: Housing: A Time To Buy

Questions, I am sure there are many . . . .  contact me anytime at 608-354-8107 or starks@firstweber.com