Yes !!! These amazing Interest Rates will disappear in 2022 . Get them locked into a 30 yr Fixed Rate ASAP!!!!!

Don't wait to buy real estate.  Buy real estate and wait. 

- Will Rogers

I have this quote on  the back of my business cards.  Prices aren't going down.

Yes. 

The root cause of  "inflated home prices" is different from the past.  Prices are not going back down, not ever.

I provide market data and information about the real estate market in general. If a buyer is well qualified to make a purchase, first time or otherwise, the decision is theirs to make. 

Why not? What are they waiting for? Prices aren't going down. Interest rates will probably go up. Inflated prices... that depends on your perspective. 

I've read, they are going to be one of the main buyers in 2022. I think it all depends. Do they have a stable job? As long as they can stay in the home for a while or rent it out if they have to move, they should be ok. Interest rates are so low they should make up the difference of deferred buying. Plus, they're essentially saving some of their monthly paying vs. paying someone else's mortgage. A lot depends on how stable their job or industry is.

Yes. Smart consumers are anxious to take advantage of the attractive mortgage interest rates that will rise during the coming year.

Yes, prices keep going up.  I remember 10-15 years ago when your area was selling in the 400 and 500 range.  Buy now and have a home.  Wait a while and have less of a home.  If they plan on being there for decades, then what happens next year is irrelevant to them.

Since prices are not the major thing affecting monthly payment, YES.  It's about the mortgage rates.  Homes are more affordable due to incredibly low interest rates.  The equity gets paid down quicker and they can use it as a rental property in the future if they have to move and still be in a position to earn money.  

Because we are in a willing-seller...willing buyer market with no acts of man or God to interfere, I would jump-in with gusto! The feeling of owning and the motivation it supplies makes it priceless as well as practical. I leave you with: BYE-NOW or BUY NOW!

Yes. Not all homes are overpriced or having bidding wars. A neighbor just bought a 2 level rambler on 1/4 acre for under $300,000.00 as his first home.

Depends on their situation and financial ability.

This question can only be answered on a case-by-case basis.

Definitely yes, but it all depends.  I am not a big advocate of home ownership for all people.  Owning a home is a big commitment that is not for everyone. 

If my advice to a first time buyer -  or any other buyer -  was that they should not buy now but wait until interest rates increased and prices increased...

Well...that would  not be very good advice.

If they have a stable income and a cushion then the water is fine.

If I had a crystal ball that worked. All I know is business has cycles and we are probably due for a downward trend BUT what do I know?

Anyone buying in today's market, first time home buyer or otherwise, needs to be fully educated on the lack of housing inventory and what it will take to purchase a home.  My area is definitely a sellers market at this time, many more people searching for homes than homes for sale.  Many potential sellers are reluctant to put their homes on the market for fear of not finding an adequate replacement property.  Add into this mix are out of state buyers wanting to move to the SW coast of Florida. 

Our current market is not for the faint of heart, buyers have to be willing to submit bids knowing they are going up against multiple other offers.  They have to be willing to drop everything to go see a new listing as soon as it comes on the market.  They also have to consider waiving certain contingencies in order to make their bids more attractive over others.  It's not an easy process but persistence can lead to success.

Absolutely!

What is the other choice?  Wait till price go higher?  Wait till they can only afford a tent?

The only regrets I hear are from buyers that  should have bought sooner...

Eve

You bet!
However, preparation will be needed.
I don't see any evidence of fake money (fog the mirror) stuff going on today suggesting a collapse in the future.  (at this time)

Real Estate is a local play, so there may be pockets where the answer is "no". But by far if you are ready, make your move!

Start owning, stop renting. First home was 12.25% fixed in a time of 16.5% adjustable interest rates. Moved up 2 years later, made money, got the home ownership tax deductions. Get in the game, become part of your community but get bank approved first before tramping in and out of houses and falling in love with one you can not finance.

Thankfully, I do not work with Buyers let alone first time buyers.  I don't have a crystal ball but I do think everything runs in a cycle. 

I spend my energy telling sellers that this is a good time to sell, I let others waste their time with the first time buyers.

Yes, I would. Since I did buy a home this year, yes! If you are ready and pre-approved to buy, waiting will just cost you more.