Timing the market can't be planned, it is something to be taken advantage of when it happens.
Over the last several years the troubled state of the real estate market has been among the leading media news stories. This overload of negative and uncertain news regarding real estate in general has paralyzed most of the general public into a "Don't even think about buying or selling now, let's wait and see what happens" mindset.
What many don't recognize is that the troubled market conditions that are making the news are also the conditions that are creating unprecedented opportunities to bring more people into homeownership. Low property values and Interest rates are making homes more affordable now than they have been in most of our lifetimes.
Perfect timing for buyers is happening now. Right now every buyer has an unprecedented, golden opportunity to snap up homes and condos at prices that are well below market value.
First time buyers who couldn't afford to buy during a normal market can now afford to own a home. Now is the correct time to talk with your lender to see if you are qualified to take advantage of the decline. You may be surprised to find that the circumstances have made buying a home a possibility. There are many homes that can be bought with a mortgage payment that is less than what you are currently paying for rent.
Relocating buyers, Retirees and 2nd home or vacation property buyers have a wide selection of great properties at bargain basement prices.
Why you should buy now and not wait with the crowd to see what happens.
- The worst phase of the market offers the best opportunities. Early buyers will be buying at the best time.
- The earliest buyers will have the widest selection of undervalued properties to choose from.
- The properties bought near the bottom of the decline are the ones that will gain the most appreciation over time.
- The choices will narrow down as more buyers recognize the opportuntieis and the better valued properties will be gone.
- If interest rates go up, fewer people will be qualified to buy.
On Southwest Florida's tropical Gulf coast where I work as a real estate agent, some buyers and investors are recognizing the opportunity and we are already beginning to experience a slight increase in sales. For now it's just a trickle but I suspect that sales will gain momentum as more buyers recognize the opportunities.
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