I am not a cynic, but I have come to believe that News programs have only one real purpose - to keep you watching between commercials. Bad news and fear are very effective in doing just that.
Now, when all the signs point to the beginning of a sustainable recovery, with interest rates at historic lows and Uncle Sam giving lots of Buyers Tax Free Cash to help them buy a home, and when Inventories are plentiful, giving Buyers the chance to pick the best from among many, why is it that the doom sayers are chattering so loud? "Be afraid, be very afraid" they say, louder and louder.
You have always been told, "Buy at the bottom, Sell at the top", right. The problem with that is that by the time everyone agrees that the bottom has been reached, we will be well on our way up the other side. So, trying to time it just right could result in missing the best opportunity of our lifetimes to buy a great home at a fabulous price. Here's how to calculate your chances:
•1. What does it cost to build a new home? My Builder friends say upwards of $90/Square foot for a basic home; lots more for a palace.
•2. How many homes can you buy in San Antonio for under $60 per square foot? As of March 4, 2010, there are 1,310 homes in greater San Antonio that are priced at or below $60 per square foot.
•3. How do you find a bargain that is REALLY a bargain? You find a REALTOR® you can trust, one who knows the market and knows the numbers. You look at what's available, pick the best and check them out, hire an inspector if you wish, calculate your repair costs if any, and make an offer you can live with. Very often, those offers are accepted, or negotiated only slightly higher!
This is the time to act! Don't be one of those poor souls who says in ten years, "Why, I could have bought that home for $XX,XXX back in 2010." Use your 2020 hindsight, and call your REALTOR today. If you would like a list of all the bargain homes available in a specific area, contact us for a FREE list. If you want to know which 5 homes I think are the BEST Buys, you'll have to call. They'll be gone before your e-mail reaches you.