Today’s buying strategy is not determined by a shortage of homes or a lack of sellers willing to bargain. Rather it’s that buying in this market can be risky. Why, because values may continue to fall and fall for months, maybe even years, to come.

Actually, there’s no way to determine when an absolute bottom to housing prices will occur. This means that buyers looking to make a purchase in today’s marketplace need to act with special care. It’s not enough just to get a lower price, buyers must also look for long-term value. Look at the relationship between prices and inventory. Even if prices have been declining they may have further to go if the inventory of homes on the market is increasing or is far larger than usual.

Ask yourself, what are the long-term prospects for the local community? Many questions need answering such as population growth, job base expansion and new home construction. A growing population suggests more demand for housing. A growing job base indicates a larger pool of qualified potential buyers. If home construction is not sufficient to meet marketplace demand then supply is likely to tighten and home prices will be pressured to rise.

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Shopping for that perfect home in a Boca Raton Real Estate Neighborhood? Realtor® Caesar Parisi is ready to help you buy your dream property.

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