It is a GREAT Time to Buy!! November 5, 2007
Posted by runningrealty in Uncategorized.add a comment
As real estate inventories continue to rise, and prices have flattened or dipped in your market, it may now be the time to jump back into the fray. The Federal Reserve to its credit has aggressively cut rates and stabilized credit card and home loans. If you’ve been conscientious about protecting your credit, you may now be eligible for your payoff. At this point in time, we are looking at the best buying market in over 10 years.
OK, I know what your going to say. The market may continue to drop. Yes, that’s true. However, I believe that Seller’s have already forfeited their recent appreciation so there is tangible profits to be recouped with a purchase now.
No one knows when we will hit rock bottom. Just how much more a home price will fall may be mitigated by capturing the sacrificed appreciation now. If you can buy and hold for 5 years or more; you can rest assured that your home will increase in value dramatically when (not if) the market rebounds. Poor timing could result in making your purchase as the market turns and you could lose far more than if you buy as the market is clearly in a downturn.
Savvy buyers understand that profits are made ahead of the curve. This may be counter-intuitive, but it is fact.
I say go for it!
