When exactly is the bottom of the market? When is the time to buy? If You buy now, will your home be worth less in a year from now? These are all the questions that many are asking themselves now and are seeking out advice from Realtors.
To first clear up a common misconception- Realtors are not fortune tellers. They base their "educated guesses" based on history. That's all "we" have. History shows that our finance system is like a clock.
As told by Peter Switzer of the Daily Telegraph "A clock at 12 o'clock is boom time. At one o'clock interest rates are rising. By two, share prices start to fall and by three commodity prices start to fall too. At five, real estate feels the pinch and six o'clock is recession. At seven o'clock the Reserve Bank cuts interest rates to kick-start the economy and by eight share prices anticipate an improving economy, beginning to rise. Commodity prices perk up at nine o'clock and, as unemployment falls, real estate makes a comeback about 10 or 11 o'clock."
This is how the system has worked for hundreds of years. So based on this clock, where are we today? Looks to me based on the bail out plan from our federal gov't just being passed and Reserve banks cutting interest rates that we should soon see an upswing and we are pretty close to the bottom and recession status. Pretty clear isn't it?
So it appears to me and it should to you also that now would be a great time to buy. Wait too much longer and prices may start to rise and there may have been great "missed" opportunities.
Bottom line and my point in this article is this: If you are even remotely thinking of buying and fall into one of the great programs that have been released as recently as this past weekend- get with your realtor and start looking. You can buy now for less than most rentals and if you are in a position to buy as investment, you have a unique position to buy and have a long term investment and a monthly cash cow.
Don't let our economy scare you, make no mistake, even though this is a rough time and records are braking in the foreclosure market and things appear very scary, it's all just part of our system of finance. We will survive and will rebound and be the resilient and thriving country we have always been.
So to answer the question about when to buy. There is no time like the presence. You can call us at AAA Realty LLC at 239-368-1831 or check us out on the web at http://www.aaarealtyllc.com/ .
