CONSUMER REPORTS SAYS BUY NOW!

With regard to homes, Consumer Reports’ has three possible buying opportunities.
Homes – Prices are down and few expect a sharp rise anytime soon. Most markets seem to have stabilized so holding off for more declines is probably a failed strategy unless you want to take the risk of buying foreclosures.

Mortgages – They report accurately that interest rates are relatively low, averaging 5.5% for 30 year mortgages. Credit standards have been tightening though so expect to go through some documentation hoops, but it will be worth it. Lenders are anxious to loan having seen a decline in their business volume too.

Home Remodeling – CR suggests that will lower demand that it could mean room to bargain for those remodels you want. Contractors are easier to get a hold of and have little to no wait times before getting started on a job.