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To Buy or to wait ~ That is the question!

By Bobbie Files

Real Estate Agent with Success Real Estate

October 22, 2007 11:17 PM

Everytime the tv or the radio goes on we are overwhelmed with different newscaster and financial guru's giving their opinions and market predictions. Has doomsday happened or is it yet to come? Has the sky fallen or are we still waiting for it to fall? And that oh so lovely bubble....has it burst yet???

I just want to scream!!!

What happened to buying a home that you love JUST BECAUSE YOU LOVE THE HOME?!?!

I really can't remember when the change happened, did it happen when I was sleeping? Did someone flick the switch on the lightbulb? Or did the neon sign light up that said "A home is an overgrown stock ....buy, buy, buy and flip, flip, flip!!!"

Where did "buy and stay" go? If people looked at a home as a long term "investment" than the question "Is it going to go down more in value next year?" wouldn't be applicable. I know it isn't real life anymore to stay in your home for 30 or so years like our parents did (at least mine did and I am almost, but NOT QUITE, 40 yrs old). I can guarantee you my parents didn't buy their home wondering and worrying what it was going to be worth in 2 months or 2 years. It was a place to raise their family. They scrimped and struggled to make that payment every month, and believe me we did without. But it is real to buy with the foresight of staying for 7 years or so. And if a home is purchased with that type of range in mind a value loss is no longer a concern. Yes, prices have corrected and yes there could be some more correction to come but then the ball starts slowly rolling the other way. First the ball stops rolling, than it takes a slow but not complete roll the other way, than it starts to creep some more, than it makes one complete roll and than it rolls again and again and again. Before too long prices start rising!!!

Don't think of your house primarily as an investment. Think of it as your home. Find a neighborhood that fits, a house you love, and a fixed-rate mortgage you can afford -- and forget about trying to game the market. If you're happy where you are, you are far more likely to stay there awhile -- which is, of course, the best way to maximize your investment.

Visit Southeastern Massachusetts most informative website.

Bobbie Files
Keller Williams Realty
508-789-0217 Direct

bobbiefiles@kw.com

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Bill Carroll

Corcoran Real Estate - Westhampton, NY

IN REAL ESTATE, REPRESENTATION IS EVERYTHING

right on , Bobbie. It's time the tail stopped wagging the dog.Everyone thinking about buying a home should stop watching tv for a week!

Oct 22, 2007 11:22 PM

Tina Thimlar

Century 21 - Saint Marys, GA

Southeast Georgia Real Estate

If looking for a 'home', now is the time to buy. Prices are coming progressively down, the interest rate seems to be adjusting itself nicely. I think the days of 'flipping' for a huge profit are gone unless you're pretty much 'stealing' the property and rehabbing it.

Oct 22, 2007 11:24 PM

M A

Boston, MA

I agree. When my wife and I found our home that we loved....we didn't stop to decide if it was the right market. We wanted the house so we bought it.

Oct 22, 2007 11:26 PM

Petra Trebohansingh

Century 21, Trademark Realty - Rockville, MD

I do not think the only concerns are loans and prices for the buyers especially the younger ones wanting to start or just started a family. They are very aware of our current economic status and the steady decline in the value of the US dollar in the world. BUT, I am in the DC Metro area and our influences here are, for the most part the same as everywhere else plus some very different ones.

Oct 23, 2007 12:16 AM

Al Maxwell

Keller Williams - Marietta, GA

Real Estate Agent

Bobbie....what a great post. You have pointed out the most obvious thing that we forget so frequently. It's not buying a stock, it's an emotional purchase that we can enjoy...

Oct 23, 2007 12:37 AM

Bobbie Files

Success Real Estate - Taunton, MA

Realtor, Berkley, Greater Taunton Homes for Sale

Petra - If the dollar tanks worse than what it is waht does it matter what you paid for anything?? It will all be worthless! That still does not and should not effect someone's decision to buy or not to buy. We ALL need a firm footing someplace and a place to "hang our hats" and raise our families. Actually keeping the money in the bank will be more detrimental if the dollar tanks than it will be putting it towards a home. Who will want the cash if it has no value??

Oct 23, 2007 12:56 AM

To Buy or to wait ~ That is the question!

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