Timing the Market: When to buy???
Is it essential to time the market so that your purchase is at the absolute bottom of a slow (buyer's) market? Certainly not!
First of all, market timing is fraught with uncertainty, and those who try to wait for the absolute best moment to buy tend to find themselves competing with others who think the same thing.
Second, no matter what the market, the goal is not to overpay
Third, interest rates often head up BEFORE home prices bottom out.
So if you're interested in buying property but think the market hasn't bottomed out yet, OFFER LESS for the property and let your Realtor use your excellent negotiating leverage to get the offer accepted!
- June 2008
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