According to Forbes, it sounds like a good-news-bad-news joke.  New home sales haven’t been this low since the early nineties.  The good news is, new home sales haven’t been this low since the early nineties.

What this means for the buyer is that prices are back where they were in 2004.  Some experts even agree that the housing market still is not near the bottom, yet. While homes sales have dropped by 2.7 % this past quarter on a nationwide average, that doesn’t equal the equities market that has dropped as much as 3.5%.  The worse market in the US, Forbes magazine said, is Phoenix, Arizona which experienced a 32% drop. Selling in Phoenix or buying for an investment may be a bad idea right now, but some areas, like big cities, are not feeling the pain as much.

In light of these figures, Forbes assembled a panel of experts to discuss the current real estate market.

The results are in.  Spencer Rascoff at Zillow.com says he thinks this is a great time to buy residential real estate.  He did agree that financing is more difficult and also the days of amateurs flipping a house and making millions in their spare time are over.  People are selling, and because of the state of the market, buy low now and sell high later is the phrase of the day.  He does caution the novice buyer to be very informed before taking the plunge.  The market is excellent for investors, but, says Rascoff, “The market is too turbulent for novices to succeed as real estate investors right now.”

Michael Feder at Radar Logic, says “Now is the time to consider purchasing a home.”  He does caution that a buyer should not just pay the asking price for a home because the seller still wants to get the best possible deal.  He advises buyers to research the market and then make a counter offer on the property.

Generally speaking, buying in big cities seems to the best market right now for people who want to buy a residential property. Across the country, real estate may be down, but it is not mortally injured.  If you bought a year ago, it is unlikely you will sell at a profit right now, but if you want to make your real estate a true investment instead of looking at it as a get rich quick scheme, then go ahead and buy that property you have always dreamed of owning.

The folks at FindBuyers.com can help you find the right home.  Their unique approach to home buying and selling is winning more and more people over every day.  Working much like a dating site, FindBuyers.com uses advanced matching technology to “mate” potential sellers and potential buyers with their 30 point matching system.  No more guessing.  You get exactly the home you are looking for in the location you want.  The Mid-Atlantic region never had it so good!