Is the water nice and should I jump in?
Is it safe with this giant sea snake?
I get many really great questions during a typical week. Real estate is still a hot topic and a frequent party topic even in non-Realtor circles. It is clear that many people are thinking about the same issues. Real estate is not an exact science and the current market has everyone a little scared. The media thrives on negative stories with dramatic headlines. I think it can easily be said that if the market turned sharply for the better they would write:
REAL ESTATE MARKET TURNED, SALES ARE WAY UP!!! BUT FOR HOW LONG? Seeing the next bubble coming by Joe Thunderclouds
- Prices are in some areas down by 15-25%.
Regardless of what the real estate market does the questions are truly way more intimate than they are being written about. Your situation plays a much bigger role in any decision to buy or sell. Gary Keller, the founder of Keller Williams Realty International, says “it is always a good time to buy good real estate.” The current lending climate might make it a little bit harder, but there are certainly great deals and golden opportunities to be found.
Recently there have been many questions about when to buy, “should I wait a little bit longer?” Great questions, but Why wait? Anything specific? What are you considering buying? How long are you holding it for?
Is this for investment or do you just need to get out of the rain?I could and do ask a ton of questions right back at my clients. But the short answer is that the time is now!!
Prices are in some areas down by 15-25%.
Inventory is up from last year; however, it is going down for the 5th consecutive month.
Loan rates are the lowest they have been in years with still very good terms and conditions.The drop dead rock bottom may not have been reached, but we are so incredibly close. When that shoe drops we are going to see a big change in the market. Buyers will come out in droves, if there are reasonable loans on the market.If this is even something you have considered in the past year or two, pick up that phone and call your trusted real estate consultant – get the answers to the really important questions, not just the ones on the front page…
Justin Nielsen is a real estate professional doing business in the District of Columbia, Virginia and Maryland.
