If you're thinking about purchasing a home, you may wish that you had a crystal ball. You want to know when the market will reach a bottom. When will it start going back up again? What happened to the value appreciation that the real estate market experienced from 2000-2005? Is now a good time to buy a home?
Sure, it may have been a good move to purchase a home before the boom. But you didn't. Are you kicking yourself now?
Today's real estate market offers lowered prices and extremely low -- record low -- interest rates. While the answer to whether now is a good time to buy or not is always a question that needs to be answered based on your individual circumstances, my job is to make sure that you're not kicking yourself in 2 or 3 years when you look back on what today's market conditions were.
For a humorous take on the idea of kicking yourself over missed opportunities in the real estate market, watch this great RE/MAX television commercial. I saw the preview of it the other week at the RE/MAX Convention in Las Vegas. You may see it appearing on t.v. soon.
I hadn't seen this ad. Too Funny, but true. I'm already seening buyers kicking themselves because they missed buying the perfect home. Now they jump if they find something they like.
Brian - as bearish as things may seem, I for one am becoming increasingly bullish.
Median prices in PWC show clear signs of stabilizing. If so, it shouldnt be long before they translate back into the inside the beltway market.
And what about the job loss? In the business cycle, job loss is a lagging indicator - meaning that the job losses continue for a while after the economy has recovered.
You might want to remind your apprehensive clients about this. Everyone looks at job loss as a sign of the recession deepening, when all it does is tell us where weve been, not where we are now.
If you want to look at a leading indicator, look at residential investment. In PWC there is tons of residential investment - it cant be long before that translates back into the beltway.
Long and short of it. For those that know how to read the signs. All signs point toward go.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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Brian - I love that ad! I saved it as one of my favs on You Tube too! Dave and the Remax Intl bunch did a good job on the ad campaign this year!