Getting Past Buyer's Remorse

Interest rates are at historic lows, home prices are down off the pre-financial meltdown days and rental prices are on the rise. On paper, it seems that now is the perfect time to buy. So why then are so many buyers and their brokers dealing with "cold feet"?

Fears about being able to obtain financing is a big one. We all know that the banks have made it more difficult to get a loan these days. But, speaking to a mortgage professional and getting yourself pre-approved is a relatively simple and painless procedure.

Waiting for the inventory to clear out a bit is another common reason why buyer's decide to hold off buying. The flaw in this theory is that as inventory dwindles prices increase. As a buyer you have much more leverage when you have lots of choices.

Another concern many buyers echo is "I don't believe the market has bottomed out yet". Well, unfortunately, the only way you know when its bottomed out is when you begin to see prices rise. No one can time it perfectly. Shop for value and don't worry about the market.

We all know someone that likes to say "if only I had bought when I had the chance, that property would be worth four times the price I paid". Don't sit on the sidelines hoping for prices to come down. Just go find a great home to buy, make a realistic offer, move in and be happy in your new place. Over the long haul real estate will always appreciate.