Can some one tell this is the best time for 1st timer buying home now?

Not yet, but I'd say in about six or eight months you'd be in a great position. I think we're only seeing the beginning of the slump in the housing market, and when we look back a few months from now these will be ';the good old days.';





Save up your money, work on improving your credit score, don't make any major purchases and lay low. When the housing market goes lower than you ever thought it would go, wait another month and then take your pick of great houses at bargain prices.Can some one tell this is the best time for 1st timer buying home now?
What do you pay for rent? Do you need or want a larger place? What does it cost to rent a place similar to the house you want? Do you have enough money down?





Those are answers you need to ask yourself. If what you need to rent is costing you more then buying then it is always better to buy for obvious reason. If your single and only need a 1bedroom apartment then you are better off renting. But if you have a family and need a 3 or 4 bedroom house you might be better off buying in certain areas right now. other areas you can still rent cheaper then buying.





Bottom line is you should only buy when you know it is not going to be a problem paying for the mortgage. Trust your instinct it tell you what to do. I will guarantee you one thing trying to time the bottom will never work. There is always someone getting a better deal or at least it seems that way. The same can said for sellers as well who think they can get more then everyone else.





Hopefully that helps you out.Can some one tell this is the best time for 1st timer buying home now?
Yeah, if it's the right time for you to buy a house. Don't expect any great appreciation for a while, but if you are a long term owner and want to control your housing expense, own your own place, then go for it. Rates are decent, inventories are high and sellers are dealing. Get your mortgage approved first and be patient.
There are alot of folks checking out the markets and finding they can buy for less monthly payment than what they are paying in rent.





It is a buyer's market, there is a ton of inventory to look at and interest rates are favorable.





Doesn't get much better than that.
It's certainly not the worst. Depending on where you live, values may go down lower but it's looking like it may be bottoming out. I'd start looking, as more people who couldn't buy before are starting taking advantage of the current situation.
i wish i would have waited and bought now. some people say to hold off longer to buy cuz houses will go down more. but i dont really think its gonna last much longer. it also depends were u live. I think you should start looking for sure