“Good Deal” or No Deal?

Recession is a terrible thing to waste. In any downturn someone is having an upturn. For many it is a time of opportunity! Buy low-Sell high.  That is the typical advice for the stock market. However we know that is not what most people do. It is a natural instinct to sell when prices are falling. And it is usually what everyone else is doing! The same idea applies to real estate. Most people will actually wait until prices are well on their way “up” because they do not want to miss the “bottom”. Problem is the bottom goes by without any notice and suddently the news will be “prices are rising”. 

What is a good deal anyway? Is it just about getting a lower price than the asking price? Do you consider how much lower the price is today than it was at the peak of the market just 3 years ago and caclulate the savings? Do you consider how much the price will likely increase over the next several years and calculate the rewards?  If you are not considering these points when looking for a “good deal” you are probably not getting any deal. Many buyers are writing multiple low price offers and consisently losing out. This results in No Deal! No deal is not a good deal! 

Is the glass half empty or half full? Even if your home is worth less (and it surely is) this is a great time to “move up”.  Home prices have fallen across the board making that dream home you have had your eye on much closer to reality! And if you move up now instead of waiting you stand to improve the amount of your increased profit considerably in the next upturn since homes in the higher price ranges appreciate at a higher dollar per percentage. Couple that with the chance of interest rates increasing (inflation always follows recession) than the price of that new home could be considerably more if you wait

Inventory has decreased dramatically over the last few months. With the spring season just beginning the scene is set for a possible “sellers market” I know it is hard to believe but it could happen.  If you see your self in any of the above scenarios and would like some assistance with your real estate plans please give me call or visit my web site to start your search for your next home. I look forward to hearing from you!

Both comments and pings are currently closed.

Comments are closed.

This theme is sponsored by California along with Texas, Radio and corporate office contact address