Lets look at the positive of the down market...THE PRICES ARE WAY LOWER SO NOW MORE BUYERS CAN GET INTO A HOME AT A GREAT PRICE.
If you are looking to purchase your first home or a rental property now is a great time. For buyers in Isanti County in Minnesota (cities such as Cambridge, Braham and Isanti), there are a lot of good homes for under $100,000. In fact many of the town homes are nice, clean, newer and move in ready for about $80,000 right now. It makes sense for most people to buy that nice newer town home instead of paying for rent.
Even some nice regular houses have seen prices drift down toward the $100,000 mark. With first time buyers incentives like the $7500 tax credit, and overall low interst rates now is a perfect time to get into a home.
For investors now is a good time to BUY LOW. If you know someone that has gone through foreclosure they might be looking to rent. Buy a home for that person to rent if you feel they are back on there feet. It becomes a win-win situation and hanging on to the home long term with yield solid returns.
Finally, buying a home is going to help the economy because it circulates the money and with enough people buying the market and the economy with stabilize faster!!!
Go to www.DiscoverYourSuccess.net for DAILY lessons from Bob Proctor.
Chuck Carstensen is a Realtor with The Discovery Team at RE/MAX; helping buyers, sellers, and investors of residential real estate. He is a Dynamic Life Coach; The Discovery Coach- "Helping you discover your talents, desires and purpose." Carstensen is a speaker and co-author in the best selling book series Wake Up...Live the Life You Love: Your Wake Up Moments (available this winter).