So we here all sorts of news out there in national media, local papers, consultants and friends about market may decline more,and depends on your location as well. The truth is if your waiting because you think it may decline further you could be mad at yourself later. Rates are at an all time low right now and projected to go up in future so you could end up paying more on your mortgage over the life of your mortgage. If your not sure what to do speak to a morgage broker to determine what an increased rate will cost based on your expected loan. This will help you make a more informed decision before you miss opporutnities out there now.
HomeSmart - Colorado Springs, CO
GRI,CDPE,CNE,MRP,SRES Colo Sprgs, Blk Forest, Monu
Michelle, good information. You are so right,.... now is an excellent time to buy. Homes are cheap and money is the cheapest it has been forever! Come on Buyers!!!
Oct 18, 2011 05:10 PM
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN
I bought my house a long time ago. Despite the fact that it has declined in value by a substantial amount in the last few years, it is still worth several times what I paid for it. “Buy real estate and wait…” is great advice.
Oct 18, 2011 05:13 PM
Top Agents Atlanta Metro - Milton, GA
Michelle, I agree with Joan, homes are the best price they have been in several generations, and with mortgage rates at below rock bottom, one would be a fool not to purchase some investment properties.
Good fortune with your investments.
Oct 18, 2011 05:13 PM
The Mode Real Estate Group - Elk Grove, CA
Real Estate Made Simple
Michelle - it is amazing how many buyers don't understand how an small increase in interest rates can cost them more than a decline in property values. I have found that showing them in black and white is often times the only way that they understand! Now is an unbelievably great time to buy and those that don't wait are going to reap the rewards.
Oct 18, 2011 05:20 PM
Berkshire Hathaway - Tiburon, CA
Experienced Realtor Call 415-279-5329
Thanks for your feedback. Some buyers will have to find out the hard way and miss great oppurtunities. Its so crazy when i think back that there was this feeding frenzy for homes in Marin County a few years back with 3-4 mulitple bids with these crazy insane prices. Buyers thought they were missing out so they jumped on board. We dont have that sense of urgency now.
Oct 18, 2011 05:31 PM
Dry Rot and Water Damage www.tromlerconstruction.com Mobile - 916-765-5366 - Placerville, CA
General Contractor, Dry Rot and Water Damage
It is tough to pick the bottom of any market; stocks, bonds, real estate. The thing is to get in near the bottom, to get in the game. There are a lot of variables too. When the prices reach bottom, will interest also be at it's lowest?
Great post Michelle!
Oct 18, 2011 05:34 PM
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired
If you put your money in the bank you likely will make little interest. If you put it in the stock market you are likely to lose a portion of your equity. If you put in in real estate it may drop a bit, depending on location, but it will have cash flow and the opportunity for appreciation. Prices low, interest rates low - real estate is the way to go! Enjoy your day!
Oct 19, 2011 12:46 AM
Rainer
72,202
72,202
Michelle McCarthy
Experienced Realtor Call 415-279-5329
Comments(7)