Question: We are tired of renting and want to buy a home but we are afraid that prices will keep falling. How do we know when it is the right time to dive in?
Answer: If you are emotionally and financially ready to become a homeowner and feel that you have found your dream home, now is a great time to take advantage of the record low interest rates. You can't time the bottom of the market, so don't try. There really are two types of economies: the national economy and your personal economy, and your personal economy matters much more. Don't worry so much about whether the home declines slightly in value. Just focus on finding a place that you want for your family and that you can afford.
(Courtesy Gary M. Singer, Sun Sentinel)
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