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6 Comments on TO BUYERS WHO ARE STILL WAITING...
Additionally - - interest rates sure makes it more appealing for home buyers & owners considering refinancing and should motivate them. In the article Time to Get Off the Fence and Into a Home, the same message comes in an atricle from NYTimes.com offered by Your Money. Another source with this message was from Smart Money, Time to refinance -- or buy a home? Good information to pass on to our buyers.
Best wishes for 2009!
Trey Affolter
http://www.treysellshouses.com
Trey - Great point. Right now is a wonderful time for people who don't want to move to refinance. Thanks for the links to the other articles! May you have a prosperous and blessed 2009!
Is this along the lines of "He who hesitates is lost" ?
Thanks for posting. I haven't seen this before. But it surely is an interesting perspective from a long time ago. Obviously written about Long Island when it was all farmland, right? Wonder how much the Hamptons could have cost then?
Happy new year!
Pacita - Exactly! How many times do you hear people tell you, "We could have bought that ___________ for $_____ back in ______." And now the property is work over a million! This is a market where fortunes are going to be made - both in real estate and in the stock market, mark my words!
I think as long as we consider real estate an "investment," we're basically sunk. I think that's what has caused most of the problems because too many people saw real estate as something simply to be lived in for two years and then sold, only to do it again, trying to make a big profit each time. Just like the stock market, that can work as long as the market keeps rising.
My parents lived in their home for 37 years, and my grandparents built theirs in 1937 and lived in it for 60 years. That doesn't happen anymore with this generation.
Russel, that is a good point. Real estate is often the biggest investment people make, but it isn't a liquid or 'quick' investment unless we have the market of a few years ago. It is a long term investment strategy. The average American moves once every 5 years.