At the end of 2011 I posted it was “time to buy”. I recognize that for many of us, buying would require selling and selling was just not an option. So in some ways 2013 and beyond might really be “the time to buy”. Sellers can hopefully sell without being upside-down; lenders will offer good rates and good fees. Neighborhoods continue to promote downpayment assistance programs to those who qualify. So perhaps even thought 2012 was perhaps a low point on home prices and attractive if you could sell, it is more true that that 2013 is more optimal for second and return buyers.
I’m being approached now by down-sizers. Those who have retired or planning for retirement and would like to transition from a home to a condo. This is a process that requires time, patience and tennis shoes 🙂 A good approach is to get out the door and into the condos and neighborhoods. We ideally like to remain in the neighborhoods we have gotten to know. Keep an open mind as the condo that is best for you might be nearby but not exactly where you use to be living. Also keep in mind there are a variety of offerings for seniors including developments with medical assistance. As one couple I helped this weekend begin the process noted, we could afford to buy and overlap for a little bit as long as the association dues aren’t too high. Some association dues can be near $1000/month depending upon what is included. Keep this number top of mind when budgeting and planning.