Someone was quoted in stating "Many people wish to wait until next year, when prices may be lower, which of course, is a risk in and of itself. Prices may be lower, or may be higher. How many times have you waited for that special sweater at your favourite store to be marked down, only to discover that it was snapped up by someone else before you had the chance to purchase it?
If may be a simple analogy, but the principle is the same: Sometimes you snooze, you lose. If that's okay with you, then go ahead and wait it out. Hopefully you won't want to kick yourself a year from now.
The truth is, none of the experts can accurately predict the real estate market any better than the experts can accurately predict the stock market or what as prices will be a year from now. If you purchasd real estate in 2006 or 2007, you most likely got a great home at a terrific price with a low interest rate. Provided you stay in your home for several years, you will benefit when property values eventually rise again.
If you are selling now, you may be selling a little lower to buy lower. Same as a year or two ago, if you were selling, you were selling higher, but more than likely buying higher as well.
After all, it is a good time to buy!
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