This May Be Your Time to Buy
Concierge Relocation Services
November 14th, 2008
Our memories are short on a lot of things. How many of us have to walk backwards to remember things? We are on a mission and walk into the next room only to realize we have no idea why we’re there once we arrive. If we retrace our steps, we realize what it was we were trying to do. That light bulb goes on!
I went to a mini conference at South Shore at Tahoe this week with some peers. We had some tremendous speakers and visited and revisited what the real estate world is going through.
When looking at history, you realize that right now may be one of the best times in real estate EVER to actually buy property. Why? Because interest rates are good and prices are good. When was the last time that happened?
20.5%
Prices have come down and interest rates are 6+% right now. Interest rates in 1981 were 20.5%. Put this into perspective! Interest rates were 11% when we got into our first home in 1983. We found a way. We made it work. And it was that first scary purchase that put us on the path to investing in our future. One foot in front of the other…real estate prices historically ALWAYS go up - just not overnight.
Single digit interest rates and good home prices create a pretty good opportunity for purchasing – whether it’s your first home or moving up. There may be no better time for a long time to come to realize some dreams in real estate. We all need to live somewhere so it is at least worthy of serious thought, isn’t it?
Our consensus was that those who wait too long could be kicking themselves two years from now. The mix of good interest rates and lowered prices is a rare thing. How many times have we said “if only we’d purchased then?” Too many!
IS YOUR LIGHT BULB ON?
This is a great market for first time home buyers and investors! Investors are starting to be seen again. A Realtor® in my office just declared he has builders who have again started buying fixer uppers to fix and sell. It’s time to investigate all your options!
There is a $7500 First Time Homebuyer Tax Credit being offered by the government through June 30, 2009. I can connect you to a professional Realtor® no matter where your inquiry might be around the United States - they will be able to tell you more about this program.
Sphere: Related Content
The media scares a lot of people and who do they get their information from? There are people still buying and selling real estate right now eery day! If you are wanting to purchase a home, the best thing for you to do is talk to a professional Realtor about the market of interest. I would be happy to make the connection for you - no cost for the service - so that you can begin to get some pertinent information from someone “on the street” rather than what “they” say in the media.
Unfortunately I think this is also a “if only” time for many people. So many people are barely making ends meet to put food on the table and pay the mortgage/lease and utility bills that there isn’t much if anything left for other investments. That’s sad because as you say, now is the time.
Liz Morris
ME2 Railroad Services
http://www.me2rr.com
This is merely an “alert” to folks that the tax credit exists and it may help those who are thinking about buying. Knowledge is power. Thanks, Liz!