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Why is Now the Time to Buy?

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Real Estate Agent License # 258579

Why is Now the Time to Buy?

If you are in the market for a home or are thinking about purchasing a home...let me tell you now is the time to buy.  Interest rates are at a 25-year low and the inventory of homes available is high, which means the advantage lies with the buyer. So there is a perception that buying a home in today's market can be an easy decision if you have a steady job, good credit and don't have a home to sell.

Let's take a closer look at that statement. 

Historically, we could win on both sides of the transaction because America's housing values were appreciating.  Within the past three year's however, we have seen depreciation creep in, especially where acute price increases were enjoyed.  Like the stock market, we are recalculating our market values to reflect the new norm.

Follow me. . . If I sell my house for 10% less than my neighbor did last year ($270,000 instead of $300,000) and I buy my next home at 10% less than what my neighbor paid for his new home ($360,000 vs. $400,000), I will have fared much better than he did. At those prices, I attained $10,000 in savings plus below 5% mortgage rates.  This same example could be made at any price point.

Historically, housing was not looked at as an investment. Rather, it was viewed as a necessity with modest appreciation.  When the real estate boom hit, housing became an investment with potential for profit. Instead of investing in the stock market, consumers began investing in housing. Today, savvy shoppers know to look at the housing market like the stock market - buy to sell. Take a look at the housing market numbers...they tell it all.

Need more space? Looking at the mountains or the beach? Need to downsize?  The numbers are compelling! Now is a great time to buy.

Comments (1)

Rich Sellers
Rich Sellers Lake Arrowhead, CA (Coldwell Banker) - Lake Arrowhead, CA
Realtor DRE#01148405

Totally Agree! Great Post!

Jun 21, 2010 08:20 AM