Those of you that have been following this blog know that I have written a great deal of late about the opportunities available in real estate investing. The menu of offerings these days presents a banquet of opportunity.
But I take keyboard in hand today to shed some light on the residential real estate market – meaning buying a home for yourself and or your family.
Some have asked the question as to whether it is really a good time to do that. I mean listen to all the negative news in the press!
Let’s take a little closer look at that.
Because if ever there was a golden rule to investing (and buying a personal residence is an investment), then it is this: BUY LOW, SELL HIGH.
You see, I am not here to tell you that the real estate market hasn’t taken a steep dip. No, I’m here to tell you it has, and as such is a great time to buy.
One must look at the real estate market from a longer term perspective. When we do that, what do we see?
We see that the Real Estate market has had a multi-decade cyclical history. It goes up and down and up and down, repeatedly, over and over again but you will note in the graph below that each cycle has ended up higher than the one before. And, while I am estimating where we currently are in this cycle, if you have been around for any number of years, you have seen the real estate market do this. Clearly, we are at a low point right now in the latest of these cycles. Would it not then follow that, if one bought a house to live in right now that the odds were extremely good that that house would be worth substantially more in the years to come??
Add to this historical point of opportunity, the fact that mortgage rates are the lowest they have been in half a century, making mortgage payments as much as SERVERAL HUNDRED DOLLARS A MONTH less than they had been, and you have a unique moment in time to buy a home.
Well, yes, you say, but even if these things are true, I’m hearing horror stories about how tough it is to actually get a loan these days, and I don’t want to start the home purchasing process only to end up disappointed.
OK, OK, I hear you. My response to that is, go to my website and look at the testimonials from all the people who have discovered differently. Bottom line is, if you want to buy a home and you make a decent income and have decent credit, we can probably help you do it. Call or email me anytime for an appointment. I’d love to see you!