Expertise Or Expert-tease?

Depending on where you choose to source your news, the 2010 housing market is going to experience a positive upswing, stabilize, or suffer further massive decline. It's easy to understand how many 'experts' can have differing opinions. There are simply so many variables informing the many predictions that the optimists will naturally see the good news, the agnostics will look at the data with relative impartiality, and the doom-mongers will hone in on all the negatives. With all these mixed messages flying around, where can a first-time home buyer, prospective seller, or even a concerned real estate agent be guaranteed to find impartial, and sound advice?

The problem is, nobody really knows for sure what is going to happen in the property market in 2010. There is a multitude of well-informed professionals out there, making widely varying predictions. In true Nostradamus fashion, it is likely that some of these will hit the nail right on the head, but equally there will be those that fall way short of the mark. So, who should we trust? The media, the government, private commerce? Maybe you could turn to your educated aunt Mary, or that well-read guy in the gas station? With so many opinions supporting all sides of the argument, it's as if the future of the housing market is as contentious as the issue of climate change!

As real estate agents so often say, 'It's Local' and of course, local influence will have a huge impact on the market in which we live, with conditions often varying enormously from one place to the next. Is your current home, or planned destination, in one of those areas where an unavoidable rise in the number of foreclosures looms on the horizon, or are those in the know declaring a significant improvement in the housing market in your part of the country? Is local employment looking perilous, or are new shoots of economic growth and confidence starting to emerge?

Ultimately, the decision to sell or buy, is not going to be an easy one to make until the picture becomes much clearer. Interest rates will appear very tempting to those wishing to buy a property, but bear in mind that they can only go up from their current lows. House prices, too, in many areas are highly alluring and, with care and planning, now could well be the perfect time to take your first tentative steps onto the property ladder. If you can, take advantage of any government assistance while it's on offer. Those wishing to sell a home and relocate, may find that their money will go much further at the moment, than it would during more a more competitive market.

An informed decision should help steer those in the mood for a move in the right direction, but the need for detailed research, and careful consideration, cannot be understated. Read online and in-print opinions, listen to pundits on the TV and radio, ask friends and relatives and, by all means do take note of what the guy in the gas station thinks. But also make sure to seek out your local real estate experts and financiers for up to date, 'on-the-ground', opinions before making what will probably be the biggest investment you ever make.