It is time to set the record straight. There will never be a better time to buy real estate than right now. Developers, lenders, the government and sellers are all working together to make buyers happy and to keep us all motivated to buy real estate. What else do we need? It is relatively impossible to make a mistake at this point.
Sellers have reduced their pricing and have realized how important it is to be priced well. 30 year mortgage rates may be the lowest we will ever see in our lifetime and for some reason there are still some of us that are on the fence. Are you one of them? Let me simply do you a favor by making this one statement; don’t miss the best opportunity of your life to buy real estate. I want to go on record. I’m not worried about being wrong. I know that this time will go down in history; it already has. Don’t listen to your know-it-all-boss, don’t listen to your family, and don’t listen to people telling you to be conservative. Get pre-approved, make your move and don’t look back. I promise, you will thank me.
Will pricing go down? Yes. Foreclosures are still leaving a nasty mark on pricing, but keep in mind that real estate is local. Supply and Demand will dictate the pace of the market. Right now, my group is noticing substantial activity in the $500,000 or less category. So will pricing get a lot of worse? No. In fact, due the very little construction activity, the current inventory and its price point will be gone before we know it. What that leaves us is a lack of inventory again bringing stabilization of our pricing, a boost in our economy and a housing market that will continue to recover. If don’t believe me, my feelings will not be hurt. Just call me in 4-5 months and I will simply tell you that “I told you so!”