Reality of Real Estate Part 20 BUY BUY BUY Merrimack Journal January 2009
BUY BUY BUY
Dr. Anthony G Ziagos, Sr.
Now is the time, this is the place BUY BUY BUY. Real Estate offers great value if you buy it right. Make your profit when you buy rather than waiting for a sale. In all likelihood, it may not get much better. Any further declines will be marginal at best over the next six to twelve months. Favorable interest rates, under 5%, indicate the time to buy a home or invest in a single family house for income and future growth is right now. We made this recommendation in September of 2007 and we continue to see excellent values and financial packages that make economic sense. The decline in values since September would have been offset by income generated and excellent posture for future refinance given continuation of attractive rates. Qualified buyers will experience an advantage in current economic environment. Lease with an option to buy is another strategy that will yield great dividends.
When the real estate market price curve intersects with the rental market rate curve it signals an open window to buy real estate. EVERYONE has to rent or live somewhere. This article is not intended as legal or accounting advise, however with the guidance of a real estate professional, you can determine where to buy or what strategy to use that best suits your situation. It is a signal to act before its too late. When rental prices are greater than the cost of owning a home it is time to BUY BUY BUY. Any further declines in interest or property prices will not effect the mechanics of a transaction. When the world wakes up, it will be too late and prices will begin to climb once again and the cycle will continue.
Interest rates should be available, in the 4.5% range, and the cost of an average house in many cities and towns is below rental market rates. House sharing can work for many families and at less than $1000 per month anyone who wants to own should be able to own.
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