Not only could this be a great time to buy a house, it could be the best time in years. Home buyers seem most interested when prices are high. We should be more interested in buying a house when they are selling for less. That’s right now.

Of course, if you have a home you may want to hesitate to move up to a larger one. Given the number of people in over their heads on their mortgages, it might make sense to be cautious. But if you are hesitating because you don’t want to sell your current home at these lower prices, think again.

Let’s suppose you have a home that you owe $90,000 on, which was worth $180,000 just two years ago. Maybe values have dropped by 20% in your area of the country since then, so it’s now worth $144,000. It might seem that this is a terrible time to sell. On the other hand, if you had plans to move into a larger home at some point, this may be the best time.

Now, if you have the financial ability, you might want to purchase the new home without selling your existing house. You can rent out your current property and wait for until you can get more for it. But if you need to sell to buy, now is the time.

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What if you’re a first time home buyer? It makes sense to buy something when it’s on sale – even if it’s a house. In addition, interest rates are still low and although it’s tougher to get financing now, this isn’t all bad. You can feel better understanding that banks and other lenders are no longer allowing borrowers to get mortgages they can’t afford.

Homes on sale, interest rates low, and lenders no longer pushing mortgages that get you into trouble – this could be the best time to buy Real Estate.

For more material on purchasing and Selling your next property Visit:Quinte Real Estate or Lorne Park Real Estate