As a local Laguna Niguel Realtor®, Ron Buck is in the trenches, so to speak, every day. Many times we Realtors® believe we feel the pulse of the market and that feeling is often verified in the media about sixty days later. Have we hit the bottom of the market and should you consider buying real estate? Please allow me to share this chart.
The point is that when you are sure you have reached the bottom of the market, it will be too late to get the best price on a home.
Consider that interest rates are once again below 4.5% for 30-year-fixed and you can obtain five and seven year ARMs in the 3s. If the market goes down 10% more and the rates go up 1% you will gain nothing. Remember, Laguna Niguel is a great place to live and if your time horizon is five years or more I, Ron Buck, have just one question for you: what are you waiting for?