In spite of the reported problem the current state of real estate in US is not as bad as it seems. Due to the massive defaults on home loans that were made to certain types of borrowers the market took a plunge. Real estate prices in the country are now expected to recover slowly over the next year.
The current market situation sees a surplus of housing stock and low buyer confidence and they wait for the market to bottom out. This however is poised to change as the economy gets a boost from the government. The property prices however will not rise by much if at all, which will make it a buyer’s market for a good time to come.
I think it is a great time for this country for homeownership. With all the baby boomers looking to retire I see many homes in Florida and Arizonia as a great choice at at great price. For some owning a vacation property is an option and with today’s market the best value and time to do this is now.
I think for those who qualify and have a deposit now is the time. For those who don’t have a deposit quickly start saving and hope the inventory holds out so you can enjoy this market.
For the investors many are taking bus tours to view multiple properties for consideration and what a great way to see many sites at once.
Lets not forget the right realtor is key in understanding your local market.