If not NOW – When?

Why homebuyers should be motivated to buy NOW rather than wait:
Please review the following list of reasons why it is a good time to buy a home. Please include additional reasons if not listed.

1. The supply is high so your negotiating position will not get any better
2. Buyers do not have to make concessions – the right home is available
3. Plenty of homes available in the best locations to raise a family and call it “home”
4. Now is the best time to purchase at the best possible price
5. Buyers can find a mortgage with the best terms
6. Interest rates remain at historical lows but NOT for long
7. Long term appreciation opportunities can be realized
8. Mortgage interest remains a tax deduction
If not NOW – When?

I have been told by first time homebuyers:

They do not want to take on a mortgage because they are afraid of losing their job.
They will not pursue a mortgage because they don’t think they could qualify.
Why the rush? Prices are still coming down, the economy is in the pits, and interest rates have been low for a long period of time. No sense of urgency.
Not so good economic news - almost daily and they lack confidence in things getting better anytime soon.

This recession is very much different from previous housing recessions.
 We have to work with homebuyers one at a time and one step at a time.
 We have to work with sellers and achieve an “overwhelming” price to differentiate a home from the competition.