There is a well known investment maxim that the value of Real Estate goes in cycles. This has been true for countless decades. It is an unvarying pattern. The width of the ‘wavelengths’ may vary; the heights of the ‘wavelengths’ may vary; but the pattern never does.
A corollary maxim (one that goes along with it) is that each successive peak is always higher than the previous peaks.
Why am I bringing this up right now ? Because when one looks at the multiple listing services it is clear that home prices overall are up 11% from this time last year.
It has been said (and it’s quite true) that the only way anyone really knows for certain when ‘bottom’ has been reached in the Real Estate downturn is afterwards, when prices have already started to rise.
Well…. here we are!
California housing market continues strong performance in October
The question is: do you want to buy right now while you still have the opportunity to take advantage of the market breakout, or do you want to wait until the market surge has caused prices to hit new highs? If you take into account that interest rates – incredibly – are still at historic lows, this is truly the “perfect storm” for buying Real Estate. Right here. Right now. Whether it’s resident real estate,or income property, or both – now is the hour.
This is definitely the time to ‘pull the trigger’ if you can, and please……do not be put off by bidding wars, as even these will not drive the prices up nearly as high as the market itself will do over the next few years. If you want help with this or if you have any questions feel free to contact me at anytime, and I will be more than happy to give you the benefit of my experience and expertise !