If you have read my blogs or listened to my radio shows you have heard me say that we may see prices come down a little more this year based on many factors such as foreclosures, lender and appraisal restrictions, increased inventory and temporary loan modifications that are up with homeowners needing to do something. I still believe that this is true. However, depending on where you are buying, even if prices come down, it will not be much more. I see prices flat-lining in many areas.
Is it a good time to buy a home? It is DEFINITELY NOT a bad time. Just remember, don't pay more than what the home is worth and make sure that you only get a 30 year fixed rate loan. 5 years from now you will look back and be glad you did!
Here is an excellent article by Pete Carey of the San Jose Mercury News, an award winning writer who usually is right on with his reporting. Click here to read it.
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