Buying real estate to be used as a home is not primarily investing, it is purchasing a consumable. We don't really invest in cars, boats, food, toilet paper, or a warehouse to store them and ourselves in. We buy them so we can use them. Just as most consumables depreciate over time, homes sometimes will depreciate. Normally, we purchase consumables when we need them. That is, unless they're on sale and we have enough extra cash or credit to stock up.
Most of us know that real estate is on sale right now, and a large portion of the sales this year were to investors. If investors recognize that real estate is on sale, consumers should take a good look at what they're missing. Maybe you're two bed condo or town house is adequate for now, and you aren't planning on expanding the family for a couple years or so. Homes are on sale now, and it might not be a bad idea to "stock up" on one that you plan on needing in the future. An extra bedroom or two at the right price may make good economic sense.
If you're thinking of buying or selling a home in Apple Valley or any of the cities it touches in the next half year or so, now is the time to start planning your strategy. Call to arrange a free, no obligation startegy session. We'll discuss the current state of the market, financing options, my professional responsibilities to clients, risks and rewards in short sales and foreclosures, and a lot more. Call me now.
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