Ali Velshi, CNN chief business correspondent, believes that if a prospective Buyer has good credit and 20% to put down, it is a great time to buy according to CNNMoney.com. Velshi feels that this has been the case all year and that we are probably closer to the end than the beginning.
In January, homes prices had dropped 28% from their peak and interest rates were at historical lows. By locking in a mortgage for 15 or 30 years on a value-priced home, a Buyer would be getting an incredible deal.
This is the same advice I have been giving to my clientele all year. Rates have already started to inch up from the very low 4% range seen in 2010. I see this trend continuing. The same can be said for home prices as hiring picks up, which should boost Buyer confidence.