Do you have the Real Estate Blues?
September 28th, 2008 Categories: Buyer's Corner, First Time Buyers, Market Conditions, Trends
The economy is a hot topic with everyone these days. All that we hear about is how bad the stock market is and how bad the real estate market is. This is enough to give anyone the blues but is the market really as bad as it seems?The media seems to only print advertising that’s bad news but lets look at some of the good news about the real estate market.
- Interest rates are at historic lows even despite what most economist have said that rates will only continue to rise. If you qualify you can get a loan with an interest rate under 6%.
- Prices are still very low so even if you are a seller and have to take a loss on the sale of your home you can usually make up the difference by purchasing a property at a much lower sales price.
- Also not every market is down the Louisville, CO market place and many of the Mountain communities in Colorado are still seeing increases in property values.
- The real estate market is very similar to the stock market it will have normal increases and decreases but as an investment opportunity, real estate is still a great way to invest your money for the future.
- In the stock market you want to buy low and sell high, the same applies for real estate. There has never been a better time to buy.
- It is a buyers market there is a great amount of homes on the market and most buyers can get exactly what they want at a price they can afford.
This market is not going to last forever. The real estate market is always changing and we will see increases in property values again in the future. But right now why not take advantage of the market and invest when home prices are lower and interest rates are lower. Don’t let the media give you the real estate blues make your own decisions and realize that there are still great investment opportunities in our real estate market today.
[...] Do you have the Real Estate Blues? [...]
I recently over heard my son, who is also an agent, say “Everyone understands a seller’s market but when it’s a buyer’s market they get confused.” He’s right and you are too. The market is never stagnant and, particularly for first time buyers, prices have never been better. What makes a market “better”? Multiple contracts with unlimited escalation clauses? Ummm, isn’t that a seller’s market? Bottom line – buy now!
Michael