I attended a conference last week and found some of the comments shared there to be quite compelling. The best comment I have heard regarding the current real estate market was made by Terry Watson, one of the funniest speakers I have ever heard. He made a great point saying that when department stores, or wherever you shop for consumer goods, have sales we are lined up at the door hours before the store opens and then we beat each other up just to get that product that is on sale. Yet when Real Estate is on sale everyone tends to shy away thinking that it isn't a great time to buy. I ask why do we rush to buy $100 items that are on sale at 10% off, yet we don't do the same to purchase one the biggest assets you will ever buy when that same 10% discount applies. Not only are you getting a 10% discount on the home you buy, but historically Real Estate prices have always gone up, helping you to build equity and long term wealth. These $100 items not only depreciate over time, but they don't provide much use other than a few days worth of enjoyment until the next 'NEW' things becomes available. Now I know everyone isn't ready or able to buy in this current market, but if you are there are incredible opportunities that you can take advantage of. All markets don't have 10% discounts on home prices but there are discount available in pretty much every market in the U.S. Statistics here in our local Montgomery County, PA area are seeing the number of unsold homes on the market starting to decrease and this is even with new homes coming on the market this Spring.
Another great comment I heard this week used the stock market as an analogy to the housing market as many Americans are also heavily vested in the stock market. The old adage that we should "Buy Low & Sell High", while a great concept is rarely able to be executed perfectly. How do you know when something has reached the lowest point, making it the optimal time to buy? You usually realize this when prices begin to go back up and you see that you have missed the boat. As the number of homes that are currently market begin to dwindle this will enable prices to remain steady with fewer and fewer discounts needing to be offered to entice buyers. Don't miss your opportunity to make a smart purchase and take the steps to build long term wealth.
Please feel free to contact me if you are interested in moving to this wonderful area of Southeastern PA, I would love to show you all the opportunities that this area has to offer.
Andrew Himes, e-Pro, ABR
Certified Relocation Specialist
Weichert, Realtors Collegeville, PA
267.231.8255 (c)
www.AndrewHimes.com
Andrew@AndrewHimes.com
Join Me In My Social Networking Quest
http://www.linkedin.com/in/andrewhimes
http://www.facebook.com/profile.php?id=583925199
http://www.naymz.com/search/andrew/himes/1936960
Comments(2)