I should have--------------

I had a phone call the other from a person that was looking for a house to lease. He stated that he had great credit and a nice down payment in the bank. He went on to say that he plans to live in the area for several years. When I asked why he didn't want to buy he told me that he wants to see what happens with the market.

Now I admit that my opinion may be a little biased but I told him that if he plans to stay in the house for a few years a wise decision would be to buy.

Prices have begun to stabilize and the number of homes on the market has decreased over the last several weeks. This is due in part to programs that encourage the lenders to renegotiate with home owners that are having trouble paying their mortgages. Also, interest rates continue at record lows. (And yes if you have good credit and money down there is mortgage money available.) And then don't forget that mortgage interest is tax deductible. For a first time buyer its like giving yourself a raise.

Well to make a long story short he choose to sit on the sidelines and maybe someday join the group that will say, "I should have bought when . . . .!"