So, would it be a good time to buy a house right now?


So, would it be a good time to buy a house right now?
By Scott Rogers • February 11, 2011
A colleague asked me this question at a meeting of the Shenandoah Valley Builders Association this evening: So, would it be a good time to buy a house right now? I responded that it would be, IF..... you know you'll be in the area for the next 5+ years you know that you have stable and reliable income you have reasonably good credit you have some cash on hand for a down payment / closing costs If you think about it, that is a lot of qualifiers. If you might want to leave the area in a year or two, this may not be the best time to buy a house. If your income might change or become less regular in the near future, this may not be the best time to buy a house. If you have credit issues, or zero cash on hand, this may not be the time to buy a house. But if you do meet my rough qualifiers above, now can be a fantastic time to buy, as you'll get to take advantage of: low fixed interest rates on a mortgage lots of homes to choose from on the market more negotiating power as a buyer than in a normal market Buying a house isn't for everyone --- but if you know you'll be here in the Harrisonburg area for the next five years, this can be a wonderful time to consider buying a home. P. S. There are plenty of other aspects of your particular scenario that could weigh your decision more or less towards buying. I'm happy to work with you to talk through that decision making process. Let me know if that would be helpful to you. You can reach me at 540-578-0102 or scott@HarrisonburgHousingToday.com. Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 24, 2024 (unless otherwise noted).
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