We keep saying that there is no time like the present to be out there looking for your first home, your second home, your "move-up" home, your "down size" home, your vacation home....and on and on. Well is it?
There is every indication that says yes, this is a good time to sell and a better time to buy. If you are living in New York State it would be good to note that soon there will be a release of a number of homes from what is know as "shadow inventory." These are homes that are in the process of being foreclosed on and released for resale. To the home seller, well let's get your home sold before this influx of new inventory drives the price down (basic supply and demand).
If you are a buyer you could wait..but, look at the cost of buying a home right now. I just received a pre-qualification letter for a client and the interest rate is below 4%. Mortgage money is available and it is available at a very low rate. Buying now will most likely ensure that you have an appreciating asset.
What a great time to take advantage of the market and at the same time give the economy a boost!