First, in my opinion there is no Real Estate bubble. For the last two years the government has been giving cash away. The dollar is going down in value. Prices will keep going up only because of the devaluation of the dollar.
Second, the real estate market is active. Depending on your town or city inventory is low in the entry level of $325K. If someone is selling or buying at this price point the market is very busy and properties move extremely fast. Bidding wars galore. Higher price points slow down the higher the list price is. For example, an $800,000 house is going to hang on the market a little longer (90 days) but all houses eventually sell.
History will tell you taxes are going to go up. This is going to cause the baby boomers to place their houses on the market for sale. Inventory will increase as supply demand goes down and pricing will stabilize. But, look for interest rates to go up.
My recommendation is, if you can find a property you love, buy it. First align yourself with a reputable Brokerage firm. One that deals with real time inventory. They should offer you advance notice of properties coming on the market that satisfies your wish list.
Have all your mortgage documents and approvals ready so when the perfect home comes on the market, we can get your offer accepted.
Remember, preparation is no accident.
