When is the Best Time to Buy Sierra Vista Real Estate?

Apr 12, 2011 by temineth

When is the Best Time to Buy Sierra Vista Real Estate?

You hear it all the time… Now is the best time to buy real estate. Don't wait! Buy now before rates go up… before inventory drops… before.. blah blah blah. Whatever it is. Agents are always trying to get the urgency across to people about when to buy or if it's a good time to buy. The reality is, anytime it's a buyer's market is a great time to buy. Rates are typically low and inventory is high. But what are the buyers actually getting? Is it good to wait a little longer?

The question is not if the market makes it a good time to buy but if the buyer is actually ready to buy. No matter what the market may be doing if the buyer is not ready to buy, they simply should not. Tim Bullington stresses this in his Sierra Vista real estate site discussing the pros and cons to buying real estate. What a buyer needs to establish first is if the time is right for them. If they are not fully ready or capable to buy real estate, they should not pretend to do so no matter what the market may be saying.

First time home buyers especially need to be aware of the details that come along with buying a home. It's not as simple as replacing a rent payment with a mortgage payment. Many times Tim suggests they buy a Sierra Vista Condo right out of the gate to get the feel for home ownership without having to engage in the full responsibility of a house. Having a condo first will allow the buyer to be partially responsible for certain things while the condo association is responsible for the rest. This is a great way to get into the real estate game without full immersion.

The drawback to this method though is the future option of selling and upgrading. More than likely the market will turn around like it always does but if the home buyer is only planning to be in the home for a couple years, they may not be able to get enough out of it to upgrade the home in a couple years. If the home owner is willing to stay in the home for at least 5 years, then there may be enough equity to put into a new home at that time, unless the home owner has refinanced over and over.

This brings me to another point. If the buyer cannot finally be responsible with paying the mortgage, taxes and insurance as well as the other details that may go along with a home such as maintenance and upkeep, then they may not be ready to buy a home. A home buyer should have money in the bank and reserves for unexpected issues. This proves to the lender that the buyer is responsible and gives some peace of mind to the buyer.

For more information on buying Sierra Vista AZ real estate, feel free to give Tim Bullington a call anytime. As an expert in the Sierra Vista AZ area he knows how to buy and when to buy it.

Tim Bullington

Office Phone:	520-439-3047
Cell Phone:	520-266-0026
Toll-Free:	800-763-5094
Fax:	520-458-2102
Email:	Info@TimBullington.com
Address:	2100 Paseo San Luis Serra Vista, AZ. 85635