What Did It Cost You to Keep Renting?

What Did It Cost You to Keep Renting?

I hear this excuse often, and my friend Rob Schiller at Shore United Bank said it today and I took his lead!!  I have been a Realtor in Maryland since 2003 and I have seen many different types of real estate markets over the years. 

2007 - OMG, Home values are too high and they are going to crash

2008 - Home values are starting to come down, I'm going to wait for the bottom of the market.

2009 - there is real blood in the streets, I'm sure home values are going to go down some more.  I am just going to wait to buy and get a Real Deal!!

2010 - Home values have spiked, but I know there is a huge amount of "shadow inventory" and foreclosures banks are holding on to, so I'm going to wait for when values come back down.

2011 - Home values are going up, but that shadow inventory is going to come to the market any day now and I'm going to get a real deal.

2012 - These people buying houses and competing against 20 offers are dumb. Don't they know a huge amount of shadow inventory is coming to the market any day? I'm going to get a deal when the values drop.

2013 - These home prices are crazy - but rates are up, which will cool down the market, then I'll get a deal.

2014 - We are in a bubble, I'm going to wait to buy. Prices have to come down.

2015 - We are in a bubble, I'm going to wait to buy. Prices have to come down. Diane Olick on MSNBC said so. We are in a bubble, right?

2016 - we are in a bubble, I'm going to wait to buy. Prices have to come down.

2017 - We are in a bigger bubble, I'm going to wait to buy. Prices have to come down. I'm going to be the smart one.

2018 - OMG, OMG, OMG we are in an even bigger bubble. I'm going to wait to buy. Prices have to come down, and rates are even going up, which will slow the housing market down. 

2019 - OMG, my lender friends are complaining about high rates and margin compression. Rates are going up so supply has to go up and prices have to come down. I'll buy soon and I'll look so smart. 

2020 - OMG I'm really worried about Covid, but this pandemic has to make values come down. People are losing their jobs, there are going to be foreclosures and fewer buyers. I'll buy then and look so smart.

2021 - OMG, these low rates and panic buying must be the cause of these higher prices.  I'll wait till rates go up to buy. Then I'll get a deal and be the smartest one in the room.

2022 - OMG, Finally, rates are going up.. that will make prices come down. I'll buy this year and beat the system.

2023 - OMG, rates are up, but values are still going up and/or holding strong. I'm back to having to compete against 10 offers if I want to buy a house.

I'll just wait until 2024 to buy a home.  That $300,000 I have paid in rent over the last 15 years is going to help me once I get a deal on a new house.  

Meanwhile, homeowners who bought at any time in the last 15 years have stopped paying rent, taken the tax savings of being a homeowner, and have seen anywhere from 10% to a 100% appreciation in the value of their home.  So, how much did it cost you to keep renting? How much of a return on your investment in your landlord's property gain you?

The best time to plant a tree was yesterday, the second best time to plant a tree is today.  Don't wait to buy real estate, buy real estate and wait. 

 

 

Creating generational wealth, one home at a time. If you are thinking of buying a home,  did you know I can help you find a home for as little as $1000 of your own money?  Thinking about selling a home in  Maryland give me a call at 410-292-0100 or start your search here and I'll talk about the market conditions and what your home could be worth in today's marketplace if you are thinking of selling.  If you are considering buying a home, there is no better time than now to buy. The tax savings and wealth building alone are worth the plunge into today's market. Coldwell Banker and I are connected with some of the world's brightest and best real estate agents and can assist with your move here to Maryland or anywhere in the United States or abroad.  Ask me how.

During these trying times, Coldwell Banker and I are equipped with the latest technology to sell your home using Virtual Open Houses, Virtual showings, electronic signing, virtual inspection, and even online closings.   You can contact me through Snapchat, Duo, Skype, Google Chat, WhatsApp, text messaging, or simply by phone.  We take your and your family's health and safety very seriously.  

June Piper-Brandon ~ Associate Broker ~ MRP, AHWD, CDPE, ePro

Coldwell Banker

410-292-0100 - Direct   410-461-7600 Office