Many people are worried right now about the housing market. They are afraid that if they buy a home now, it will decline in value. And maybe it will for a little while. This certainly isn't the type of real estate market in which you try to flip homes. But if you are planning on living in the home for a while, it's a classic opportunity to "buy and hold."
And, with home prices down, and home sales down, it is definitely a buyer's market. Add to that the fact that mortgage interest rates are still pretty low. This means that you can get a good deal on your mortgage financing on top of getting a good deal on your home. (One way some are finding great home deals is by going on a foreclosure tour.)
But you better hurry. Alan Greenspan thinks that home prices will be moving back up by the end of 2008.
image credit: sxc.hu
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