Get a free comparative market analysis of your home's value sent to you with no obligations.
Search for a Home
Find your Home's Value
Featured Property
SubscribeSellers Resources |
Featured Article from our BLOG: RealEstateTidbits.com
Why Should Buyers Buy During the Current Recession?
This is a topic I discuss regularly with would-be buyers and investors: Why would anyone buy real estate in today's tough times and down real estate market? The answer is very simple: It's truly one of the BEST TIMES to buy or invest in real estate? Puzzled? Read on...
Have you ever heard that great fortunes are made during tough times? Sure you have. Some of the richest and most successful people TAKE ACTION during times of uncertainty? Why? Because others don't, and... opportunities abound.
One of my favorite sayings is "Successful people do what others are afraid to do." Think about it... isn't it true? In the real estate market, we can define "successful" people as those to see opportunities that are available during the current recession and move on those opportunities. Does that mean those who don't take advantage of the opportunities are "not" successful? No, of course not. It just means that those who do may very well come out ahead of those who don't.
During today's challenging economy and down real estate market, there are three primary reasons those considering buying real estate should "jump in":
- Prices are the lowest we've seen in MANY years. Yes, this is a biggie... prices are low. Think of it this way: REAL ESTATE IS ON SALE... UP TO HALF OFF OR MORE!!! If you saw a sign in the mall that said that, wouldn't it catch your attention? Sure it would. Homes and investment property prices are the lowest they have been in a long time. Why wouldn't someone buy now? Some would say that values could drop even further and they'd prefer to wait until they can get an even better bargain. That logic does make sense... to a degree... but how long will they wait? What if they wait too long and the market starts heading back up? Then they missed the boat. By the way... the only way to truly know when the real estate market has "bottomed out"... is when it starts heading up again; and then all the best opportunities may be gone. Think about it.
- Interest rates are at, or near, historically-low levels. Even if property values drop a bit more, interest rates will go up, making now a truly amazing time to buy.
- Lots of inventory from which to choose. There are plenty of choices out there... from foreclosures, short sales, and even "regular" sellers - those who have equity.
So, as you can see, it truly is a great time to buy. In fact, this may be the best opportunity we'll see in many years to get a great deal on real estate.
And, remember... even if prices drop a bit more, we may not see interest rates this low for many more years, so any money saved in waiting a bit longer for prices to drop may be offset by the soon-to-be higher interest rates.
Of course, if you're not sure what your best move is in today's market, give me a call. We can discuss your specific situation and how you can take advantage of the opportunities currently available.











