According to reports on this morning's news, this is the best time to buy! The interest rates are still very low and the home prices are still low. Will they continue to decline? There are so many opinions on it and looking at the numbers, they are still coming down but at a much slower rate. Some reports say it won't be until 2012 that we will see them on the rise again. Nobody is a genie and we really can't say for sure what is going to happen. We have seen the prices in Hernando County decline significantly but the homes are being sold.
I do know that if you want to refinance or purchase, do it now while the interest rates are low. If you need to refinance your present home, the rates are low. However, you have to keep in mind that your home must appraise and if you bought it from 2004-2008, it is most likely not worth what you paid for it and depending on how much you want to refinance, it may not qualify.
Always use educated realtors and educated mortgage lenders.
We will always keep you posted!
