This came in as an “Ask the Broker” question, but it’s really a wide open pitch for any informed observer. (That would be you.)
So should second-home buyers buy now, or wait? Will lending rates go lower soon? Or is this the time to strike?
Have at it, if you like, but back it up with a reasoned argument. I have no idea where our interlocutor is located, so respond for your own market.
My own take: If you’re willing to buy aggressively and hold for at least three years — five would be better — this might be the ideal time to buy a turn-key home in the Phoenix area. Values could continue to slip over the short-run, but interest rates are unlikely to stay this low in the long-run. Waiting out the bottom on price could result in a worse buy overall, where hammering hard now on price while rates are still very low could put you in an excellent position to prosper when values start to rise again. Nota bene: Never invest money you can’t afford to lose.