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Friday, October 22, 2010

When will you know it is time to buy that house?

There is no crystal ball that will signal you that it is now the time time buy that new house or condo in Brevard County, Florida or any other place.  There is no magic "8 Ball" to shake that will say "buy now!" 


No one knows for sure when it is the right time to buy but in my opinion the "right time to buy" is based on things having already occurred.


I heard today that interest rates are at historical lows - something like 4.1% on a thirty year loan.  Of course, that is the best rate for the best customer (best credit scores).



So what has to happen to signal buy?  I believe, as a real estate agent, three things must occur:
  1. Home prices rise,
  2. Homes sold increase,
  3. Days on the market decrease (selling more quickly).
 Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

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