I was remembering today the rush to buy real estate in Cedar City, Utah, a few years back. Most people thought that upward trend would last for 10 years. When it stopped dead in its tracks, we were shocked! I lost money as did many others on real estate that I purchased during the top of the hot market. We simply didn't realize that it was the top! Everyone seemed to be jumping on the bank wagon. Buyers would spend $30,000 above appraised price, and be happy to have gotten the property because 2 other people were offering at the same time.
What did I learn? I learned tht the time to buy is not when everyone else is buying. There is no way to know where the top is! I learned that the best time to buy is when there is no rush at all!. I was comfortable buying when everyone was buying because it's nice to be with the group. It feels safe. In actual fact, buying with the crowd is the only time in my 40'/- years of buying real estate that I've actually lost money. All of my other real estate investments have been very successful.
I realize that the time to buy is now when the market is down, and interest rates are down and the inventory is high! We do seem to have an increased number of buyers right now, so I believe there is a good chance that the market is turning. We have investors calling again which is a good sign. I believe the time to buy is now. There is no way to tell exactly where the bottom or top of the market are, so I recommend buying now while everything including flexible loan programs are in line to benefit the buyer.
Over time, real estate prices go up. Therefore, call Janet's team at 435-865-1019 and begin your successful climb to real estate success. I can help with every home or property no matter which office has the listing. That will save you hours of time to work with one realtor. Go to www.homesincedarcity.com and click on search MLS. Then call Janet's professional licensed team for all your real estate needs at 435-865-1019 or 1-800-934-3742.
Janet NaisbittBagley, ABR, CRS, GRI, ERS, Associate Broker; Email firstname.lastname@example.org