Is now a good time to buy?

[jimmya]

We would like to buy a new manufactured home but ha ve heard that the slow down in ho0using sales 2will bring prices down more. Is this true? Should we hold out for a while and see if prices go down?

[admin]

The surplus of unsold new homes and the accumulation of repos by lenders have created a buyers market. Sellers across the country are offering excellent prices and other incentives to bring in business. Additionally interest rates have been hanging close to historic low rates.

There is little doubt among anyone who is out there shopping for gas, food or most consumer items on a regular basis, that we are seeing a period of inflation. In the past as inflation became more pronounced the Feds have raised interest rates in an attempt to "cool off" the economy.

This could lead to double upward pressure on the costs of new homes. As interest rates go up, the monthly payments on the same loan amount will go up, making your purchase more expensive. Also as the cost of everything rises so will the cost of building materials also making your home purchase more expensive.

Across the country the surplus of new homes and repos is being sold down every day. Once they are gone the current buyers market will turn and you may have lost the best possible chance at buying the home you are hoping for. Now is an excellent time to buy a home.