I am asked this question quite a bit... and the answer is simple. No, it's not a good time to buy a home... it's a GREAT time to buy a home. Many think that because of everything going on in the economy and with all the uncertainty in the real estate market, that they should sit on the sidelines and wait. I say "wait for what?".
Think about it... here we are in January of 2012 and...
1) We currently are experiencing the lowest home prices we've seen in a decade.
2) Interest rates are at historic lows.
3) With all the forelcosures, short sales and even "regular" sales currently available, there's LOTS to choose from. Small homes, big homes, old homes, new homes, inexpensive homes, and even more inexpensive homes.
I'm not sure how it could be any better.
Yes, it's very possible home prices could drop even more in the next year or two. But, if you plan to live in your home for a few years or more, then so what? Even if prices drop a bit more, you'll still have the tax advantages of owning your own home. You'll still have the pride of owning your own home - you can paint it whatever color you want, you can remodel, change or improve whatever you want... it's YOUR home. And, of course, you're not paying rent... your payments are working for YOU... not some landlord.
Not convinced? Call me and let's discuss your situation. I'm at (916) 241-8000 or (530) 677-1332.