Buyers: Focus On Your Needs

I love the national pundits on radio and television. This time last year, the real estate market was never going to slow down. This year…the refrain is “run for the hills!”

Before you get caught up in all the hoopla, step back and take a deep breath. Forgo the hype. What do we really know now? I’m not talking about what our neighbors are saying or the daily statistics. I am talking about the real estate market in general terms. If you focus on them, something will become apparent quickly.

• For the first five to six years of this decade, indeed century, the real estate market appreciated at absolutely bizarre rates.

• The real estate market has a traditional characteristic of correcting itself.

• The need for housing will never end.

• The housing market will start recovering as soon as the end of 2008 or sometime in 2009.

What does this all tell us? It says it is a glorious time to buy a home! Yes, the market is down. Yes, it is WAY down! So? Can you imagine a better possible time to be buying?

At this very moment, there are people who have been saving every penny they had for this day. They are buying everything they can. Why? Because in two years, the properties will have rebounded and these individuals will have made a killing. We are talking about the next Donald Trump types here.

If you are considering or need to buy a home, do it! Yes, the economy is slowing down. Yes, we are probably in a recession. Yes, gas costs more. So what? What does any of this really have to do with your decision to buy a home? As long as you can make the relevant mortgage payments and live comfortably, buy now. The market might drop a bit more, but it can only go so far.

As a potential buyer in the real estate market, you could not ask for a better situation. Homes are a steal. Properties you couldn’t afford 12 months ago may now have dropped into your range. Buy one and you could be looking at hundreds of thousands of dollars of gain in just two or three years. Heck, it would be a great result even if it took five years!

The point is this real estate market is presenting you with an epic investment opportunity. If you are considering buying a home, do it! You will thank the Lord that you did so in a few years when you are sitting on that huge equity gain.