Over the past 16 years of selling real estate, I have worked through many stages of a real estate market. Instead of focusing on any negatives of our past and current market, I recommend that we focus on the positive. This year there is a new momentum in the real estate market.
As a buyer, be smart about your options and take advantage of the current market before it becomes a seller’s market. Interest rates are still low (4.5 percent and lower for qualified buyers) and there is a strong supply of homes. Note, mortgage rates in the early “80’s” hit a record high of 18 percent. With today’s low mortgage rates, buyers are saving incredible amounts of money on their home purchases. After facing these great benefits in today's real estate market, why would you want to rent and give your money to someone else? Isn’t one of the American Dreams to own your own home?
While owning a home is part of the American Dream, I am sympathetic to the tougher financial economy we live in today. Although our country has seen worse, we are still struggling to improve again. This doesn't mean that owning a home has to be out of reach. If you’re interested in buying a home or investment property, you should take advantage of the current economic state. There is speculation that the real estate market has started it's upswing again. While that upswing continues to improve, the supply of homes will get smaller, house prices will go up and mortgage rates will again climb. Instead of waiting to see what happens, now is the time to lock in the best deals in real estate. The investment will be worth it.
I believe in the American Dream. I also know that real estate is one of the safest places to invest your money! Be smart and speak to a realtor today about your options.