Good Time To Be a First Time Home Buyer
Americans throughout the country think that this is the perfect time to purchase a house because of bargain home prices and reduced interest rates for mortgages. On the other hand, homeowners say that it’s not such a good idea to start selling their property.
A recent report revealed that almost 70% of the individuals believe that now it’s a good time to purchase a new home. The same report showed that 90% of the participants at the survey think that this is not such a good idea to sell. Even if the economy and the housing market are improving in 2012, sellers don’t think that this good news will make buyers offer more for a house. It has been said that home prices must go up a little so as to determine individuals to purchase in large volumes. The job market must also improve in order to make potential buyers get into the market. Job growths and reliability will give people confidence in their employment.
However, there are surveys and forecasts that predict an enhancing housing market in 2012. This year up to 5% more existing homes will be sold. Also, in January there were 76 improving real estate markets as compared to 41 in December. Moreover, 39% of real estate agents think that their markets have hit rock bottom. On the other hand, ¾ of the brokers are optimistic about increasing home prices in 2012. This year, home prices all over the country will be kind of flat. The 2012 housing market will be the springboard for a sustained and healthier recovery in 2013.
Even though some homeowners are not ready to sell yet, they might start preparing their houses for the next year sale. Markets vary and that’s obvious. Some places such as Ohio, Dayton, Washington D.C. and Florida, have experienced increasing prices. Still, other markets such as Las Vegas, Chicago, Detroit, and Atlanta, are on the downward slide. No matter the case, waiting until next year will lead to a more profitable and quicker sale.
It has been mentioned that for the sellers it’s too early to put a house on the market and wait for extra demands. Unless there is an emergency that forces them to sell now, they might want to wait and look for improved markets in the future. Certain sellers have postponed their selling decisions for many years in the future. Still, those who want to sell as soon as possible could see some hope in 2012-2013.
Numerous persons have put their existences on hold because of the financial crisis. Some of them have come to the conclusion that it was enough. They have waited for too long and now they want to move further. These people are not willing to sell their houses for financial reasons. They want to sell because of lifestyle-related reasons. These individuals can wait a little more until the market will recover completely.