The news in Seattle over Case-Shiller data is that prices have moved up for the first time in almost 2 1/2 years. Other markets are up as well and some are flat and others are still dropping. Is that a "buying" sign? I think not.
We can discuss market forces all day with Wall Street jargon: Are we bouncing along the bottom? It is really about jobs. There is a shadow market of yet to be marketed REOs, looming foreclosures and ARM resets.
When all is said and done, we are real estate agents, not investment brokers. We help people with their housing needs.
The notion of housing as an investment is off course. People should buy houses if they need a home. A home is a place for a family to live and grow together. A home is a place to alter and remodel to suit your needs. It provides shelter. As agents we help people find those homes and help sell them when people need to move.
Flippers trying to make a fast buck, among other forces, created a bubble in prices that finally burst. It is ridiculous to sit around waiting for a bubble to start inflating again as a sign to buy a house. Buy a house if you need one. Buy one that fits your special requirements.
Focus on the joy of living in 2010. Create an investment strategy, if you wish, but leave your home out of it.
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