Real Esate Blog

Well, I'm calling it. Time to buy....for certain people! Who?? First of all, 1st time buyers. Yes, it is time for all first time buyers to get on board. I don't feel prices are going much lower if any. I think the worse will soon be over for the "housing crisis". Yep, just my opinion. Interest rates are still low, selection is great and there are still some sellers struggling to get out of their homes. In the long term, house values will increase, just makes sense. No new land is being made and the birthrate is still going strong, so there will be more people looking for more land and prices will have to rise. When? My crystal ball is not that good! I would guess by mid to late '09 we should be in better shape and since most people stay in their home an average of 5-7 years, it is a VERY good chance home prices will be up by the time you are ready to sell.

The other "people" who should be buying now is long term investors. Many foreclosures and REO's to be had at very good prices. And today I did a survey of various apartment complexes around me. Guess what? Occupancy was consistanly in the mid 90% range and prices have been going up steadily for the last couple of months. Much fewer deals and firmer prices. So if you buy now and fix-up for a rental you should be able to keep it full with good renters. What more can you ask, positive cash flow and an increasing value investment. Best of all worlds. That my story and I'm sticking to it!!!