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SEARCHGreenspan said so…
October 27, 2006
There are as many opinions on the state of the housing market as there are economists, realtors, mortgage lenders and consumers. So does anyone know when the market will change? Probably not, but Greenspan has his own opinion. As former chair of the Federal Reserve, Greenspan told the Commercial Finance Association yesterday (10/25/06) that housing prospects are looking up. “Most of the negatives in housing are probably behind us. The fourth quarter should be reasonably good, certainly better than the third quarter.”Â
What does this mean for buyers? Well it may be time to stop waiting for the market to ‘bottom out.’ If you have been on the fence for a length of time, you may want to dig a little deeper and start looking for a great home at a great price in a great location, because they will not be here forever.Â
Generally the real estate market looks more like a yo-yo going up the stairs. If we look at the past year as a descending in the yo-yo, then this next quarter and first quarter of ‘07 may be the best time to get into a great home at a still historically low interest rate.Â
Remember it not about timing the market; it’s time in the market that will make you money!Â
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