How Will You Know When We Hit Bottom?

So many people are sitting on the fence waiting for the bottom to fall out. The only problem with that is we don't know we hit bottom until our prices start going up.

Some experts are saying things will start improving in the Spring of 2009 and some experts say we should be back to some normalcy by 2010. That tells me, 2009 is the time to buy. Interest rates are at an all time low, there are a number of incentives for first time home buyers and we're even looking to changes (for the better) for investors.

This may not be the best time to put your house on the market, but if you can afford a small loss now, you can find great deals for an upgrade. You need to have some equity in your home if you don't want to come to closing with cash. If you wait until the market starts improving you might get more for the house you are selling, but you'll also pay more for that new home. Make sure you are upgrading not downsizing.

Great Time to Buy/ New Low Rates

When times are hard it is understandable that we are afraid to make any moves. My husband and I thought about moving closer to Atlanta because the cost of gas for my husband to commute was equal to about 1/2 our mortgage. The problem is, it isn't a good time to sell your home, and I need to sell my home before I buy a new one. There are many people in the same boat. But, it's still a great time to buy! So if you are in an apartment or you don't need to sell an existing home to buy, now is a great time to buy.

Some people are waiting for the bottom to fall out. The problem with that is how do we know when the bottom has fallen out? When the prices have already gone up. We can't predict when it will happen, but we will know when it is over. When do you want to buy? While the prices are going down or when the prices are going up?

I just received a message yesterday from a friend in the mortgage business that the interest rates have dropped to 5 1/2%. It's been a while since we've seen them that low. If you are thinking about buying a home, now is the time to buy. With great prices and low interest the timing couldn't be better. For more information on lending you can contact Tony Boothe with Metlife (First Horizon merged w/MetLife) at tboothe@metlifehomeloans.com.


If you are interested in a foreclosure there is a link on my website to search foreclosed homes. Go to www.marylesh.prudentialgeorgia.com

I would like to introduce to you my partner Diana Stowe. I worked with Diana in New Home Sales for years, and I am so excited she has moved her license to Prudential Georgia Realty to work with me.
Diana is a real people person and a true asset to the real estate industry. She treats everyone like family and she truly looks after their best interests. She has a passion for people and the real estate business. Who wouldn't want to work with her? Her positive attitude is infectious.
Stop by our office to meet Diana.
Prudential Georgia Realty
2750 Chapel Hill Road, Suite 1400
Douglasville, GA 30135