This is beginning to look like a ’shoulda’ year.  House prices rolled back
three years, interest rates at historic lows, lots of inventory and
bargaining power.  The kind of year where maybe 5 years from now you will
say to yourself “I should’a bought then.”  But of course it doesn’t feel
very good right now, does it?  When the market is hot, buyers have to decide
quickly, bid high, and often take their second or third choice house - but
it is exciting and often seems fun - everybody is doing it .  When the
market is cold, buyers can take their time, bid low, and usually get their
first choice house - but it seems lonesome and uncertain out there - and not
nearly as much fun .  That ‘high is hot/low is cold’ syndrome is why it
is so hard for any of us to actually buy low and sell high, in any type of
market.  But here is that opportunity we always say we want - low prices,
low interest rates, lots of choices: the opportunity to buy your first home
(with lots of extra government incentives), the opportunity to buy up for
that better home, the opportunity to buy that investment property that will
pay for your kids college education or build your retirement nest egg.  It
takes clear goals and lots of willpower to buy when others are fearful, but
maybe this is a ’shoulda’ year.

Chuck Reiling

www.reilingteam.com

(entry originally published 2/17/09)