Real Estate - Are We At The Bottom??

How can it get much better than this? Prices are lower than they've been in years. Interest rates are extremely low. Today I received an email from a loan officer quoting 30 year rates at 5.375% with zero points and 5% with one point. Why wait? Things could start to change if some of the talked about Federal Government proposals take shape in the coming weeks and once our new President takes the oath of office. Inventory levels of Single Family homes for sale in many area towns are significantly lower than they were a year ago. For instance:

Plymouth - down 18%

Kingston - down 20%

Carver - down 19%

Pembroke - down 19%

Hanson - down 34%

Rockland - down 42%

Halifax - down 13%

source MLS-PIN 12-9-08

If incentive programs are introduced to stimulate the economy and bring more Buyers back into the real estate market, isn't it safe to say that in towns like those mentioned above, where inventory is already low, that a higher demand and a lower supply will only result in prices starting to go back up - even if only slightly? If you've been hearing and thinking that you've got to keep waiting because "things are going to get even worse", don't be fooled. Real Estate is local. If your goal is to purchase a home in towns located on the South Shore, now may be your best time to buy. Contact The Lopes Team to discuss the details. We will help you achieve your goal of home ownership. NOW is the time to buy!!