Should I shop for a house now or wait till the prices drop more?

If you are in the market to purchase a home now, shop for a house now. If you are paying rent to a landlord the money is going to the landlord not to you. If you are thinking about gaining more space read further down my blog to the article entitled about a tide raising all ships.

Even as the news media talks about higher foreclosures, and mortgage lending crisis, the real crisis is whether you can now qualify for a loan you could have 6 months ago but now have to put at least 5% down. The financial burdens of rising energy costs both gas and electricty (at least in Albuquerque with PNM's 6% rate hike) and rising food prices, eating away at your family budget.

Why would this be a great time to buy a house? Perhaps a 10 mile shorter commute to work or shopping. Maybe a energy saving new home or smaller home. Maybe that child is on the way and you need more space.

Whatever the factor, waiting until prices drop is about the same as putting off surgery until the hospital puts it on sale. The perception of the market continueing to drop in the future is the same as trying to predict who will win the world series as of tonights baseball game. So far even in this economic housing climate, home prices have not fallen but remained steady in the Albuquerque metropolitan area with a slight decrease only in Rio Rancho. The number of HUD foreclosures and bank REO's (some that I have represented) have not risen all that much in our area.

So my answer to the question is if you are thinking about buying a home call us and we'll find you a home. We work with fine mortgage lenders like Ana Lisa Cordoba at DL CLine Mortgage (505)379-8722(see mortgage page of http://buyahousenewmexico.com ) that will help determine if buying a home is right for you. We can help educate you to determine if it is the right financial decision for you.

We also would like to say goodbye to our affiliate with Country Inn and Suites while short lived we hope our customers were able to take advantage of the great savings they offered but you can still use our contract with:
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Remember our BuyaHouseNewMexico.com special for our customers who are relocating from outside the Albuquerque area. Purchase a home with us and upon closing we will reimburse your hotel stay up to 3 nights ($69.99 per night maximum) at one of our participating affiliates (and.or off rental cars or airfare)if the reservation is booked through our relocation page or from this blog.