Buy Real Estate in Idaho
This seems like a no brainer but I have been pleading with Idaho Home Buyers and Idaho Investors to buy, buy, buy! The reason I say this is that in 1987 I had the opportunity to buy real estate in Idaho at incredible prices that would have made me a very wealthy man today. I tell the story that in 1987 I could have purchased one-third acre lots bordering the fairway of one of the most popular golf courses in Idaho for only $5,000 each and didn't buy them out of fear! I am embarrassed to say those same lots sold for an average of $178,000 in 2005! As many as 7 lots were auctioned off that day!
Fast forward to 2010. Last year I wrote the blog 3 compelling reasons to buy Idaho Real Estate Now! and pleaded with Idaho Home Buyers to not pass up the incredible opportunity that exists today that will some day go away. Don't do what I did in 1987! Some Idaho Real Estate values have dropped to prices seen in the 1980's and the opportunities that exist are unbelievable!
Believe me when I say the party will come to a halt one day and many will not even know what hit them. This recession will not last and rates will not stay this low for long. Consider this, for weeks mortgage rates remained in the range of 4.75% and those same mortgage rates are at 5.25% today which is still great but as the economy starts to improve and we start seeing signs of stronger retail sales, stronger national home sales (which just recently happened) etc. the Federal Reserve will start raising interest rates to keep inflation under control. Just look at the mortgage rate trends over the past 30 years and you can understand what I am saying. The Federal Reserve will raise interest rates as fast as they dropped them if the economy starts to heat up too quickly.
Bottom line is if you can beg, borrow or steal (just kidding!) the money to buy, buy, buy Idaho Real Estate or real estate in Tim Buck Two "Just do it"! Trust me, you will thank me years down the road!
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