The investing " Holy Grail "
"Finance 101 will often tell you that, "the best time to buy is when opportunities are created out of seller necessity. A couple I have worked with for some time, just bought a home straight out of a Builders Inventory (these days, builders have taken homes back from a buyer who could not qualify for a loan.) The original price on this home was more than $700K. They bought this brand large beautiful new home in a wonderful community of Peoria for $400K.
Now, this couple has bought this new build home low. Have they purchase at the lowest? My crystal ball has not worked as well as I would like. However, based upon their needs, wants and desires, they have bought "Low" and have a wonderful home to raise their family. How do they sell High? Well maybe the correct term is sell their real estate "Higher".
Again, my home buying crystal ball is on the fritz. However, they have a very affordable 30-year fixed rate that they can comfortably afford and do not have plans to sell for many years to come. A historical outlook will suggest that their plans to live in this home for 5-7 years and possibly longer will give them an excellent chance to build equity, save on taxes, sell higher, and most importantly give their family a place to call home.
I would say that I have never seen so many great buying opportunities for the prudent, savvy, patient and credit-worthy real estate investor and/or new home buyer.
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