This argument has been widely circulated but the point is so well taken that we Realtors need to keep hammering the message home. It is impossible to time the market and win, if you happen to do so, you will only know after the fact, and chances are it was just plain lucky timing.
Thank you Alex Morris from Austin TX for doing a nice job of presenting the facts, concisely and with the charts.
Buyers in my market, pay attention! The perfect storm for buyers is upon us now, and it may already be that Obama's announcement of QE2 was the signal that the bottom in rates had already happened!
I hear a lot of people voicing concerns over the timing of their purchase."I just don't know if it's the right time to buy."Fair enough.But here's the problem folks: You never know when the bottom hits until it's on the way back up. Furthermore, if you buy a property you like at a discount, based on the nature of the market, then price/location trumps timing. Furthermore, I will throw the "rate argument" (the fact that they are at/near historical lows) at you as well. So now we have
- rateall working in favor, and working against you:
- timing (possibly)So when it's all said and done, the only time you know you timed the market right is...well...tomorrow. Crystal balls and hindsight are great for quips to make yourself (or others) feel better. But in my opinion, if you find a deal that is economical, that already is priced at a discount, below current sold comps, then in truth you have a "buffer zone" to allow for the market to dip a little bit more. And if you are going to be in there for 3+ years, you probably will incur a dip here and there, but like with stocks, you won't lose money until you sell it.Reference the chart below so I can better explain my theory:Let's call it a tasty side to go along with your Christmas ham, also known as "food for thought". This is not a guarantee, but a commentary on the "anticipated buyer's remorse" I encounter all too often in the crazy world of real estate.
(512) 917-0834 AlexMorrisRealtor@gmail.com
"Waving People Home Since 2005"