Pretty Persuasive Arguments to BUY NOW!
I feel like a broken record. For the past several years I have been preaching "BUY NOW! BUY NOW!" Funny, thing is, at no point was I telling a "fib". Whether you realized the $8000 tax credit and listened to BUY NOW then or if you are one of thousands to enjoy historically low interest rates because you listened to BUY NOW, then you have taken advantage of one of the greatest times in history to purchase real estate.
Throughout these past few challenging years, each and every day has held potential for the individual to capitalize on a unique time to benefit from their real estate purchase. Not letting THE house pass you by while enjoying a great rate, purchasing an investment you can live in or rent (you can't live in a stock share), not having to hassle with future, undefined governmental regulations that are creeping down the pipeline and having tons of choices coupled with some of the lowest prices in years.
According to a recent post from Steve Richman the house price index as provided by the FHFA (fhfa.gove) shows the home values have gone down 11.6% over the past five year, down 1.33% over the past year and up 1.45% over the past quarter. Richman goes on to say, that whereas this can't necessarily define "rock bottom", it is a pretty persuasive argument to get "off the fence" as prices look to be stabilizing if not increasing.
Also, Richman does a nice job (as we have shown in a previous post) of showing how though housing prices may not be at their bottom, if you couple slightly higher prices with the low rates, a slight incline in rates coupled with low prices still may make for a larger payment and more interest paid over time.
Bottom line, NOW is and has been a great time to invest in real estate. Feel free to reach out to me or one of our team members to discuss your personal situation and decide if you should BUY NOW!