Hello – thank you for stopping by today. Thanksgiving is over and now we begin the fast pace to Christmas. The real estate market industry is no different. There is never a good real estate market or a bad real estate market. The real estate market is “what it is” and is ALWAYS good for someone! How is it possible that we call a market where home prices are stable or slightly lower than last year, a bad market? It is hard to follow that logic!
The market has resumed a more normal number of showings after a slump during the election season. Showings have increased in North Raleigh and Cary real estate listings to pre-election numbers. December home sales are beginning to show signs of improvement from the last two months. Homes are selling in the Triangle and buyers are getting a chance to capitalize on the best home buys in years. Here are my top reasons to consider buying a home right now!
1. Sellers that have their home on the market in the winter season are usually serious sellers with strong motivation to sell their homes at reasonable prices.
2. If you are buying a home through FHA, you will save ½% on your down payment by purchasing your home now.
3. Solid neighborhoods with strong track records of appreciation are being sold at discount prices to savvy home buyers willing to buy verse wait.
4. Loans are available at outstanding interest rates that make monthly payments the same or lower than rents.
5. Much of the US wealth is held in principle homeownership. Because of this fact, real estate is as safe as the US economy and will rebound quickly. By purchasing a home now, you will have the chance to build equity rapidly and when the market returns (as it will) you will be years ahead by choosing to buy in a slower market.
One last thought for those of you that own a home now. In the last 2 weeks, I’ve heard from 2 past clients. Both are very financially conservative. One of these past clients called one day and said that he had been traveling extra hard with his company and had decided to buy a more expensive home. He owned a moderate price home in a top Cary neighborhood in the range of $300k. His home was nearly paid for, so I was surprised to receive his call and request. When I asked him why, he stated, that 5 years from now, he felt he wanted his money invested in a more expensive home verse staying in the home he was current living. A week later, I got another call from another business executive that I have a long history, and he expressed similar plans and opinions. The winds are changing.
I’ll leave you with the same question, my past client asked himself,
“5 years from now – where do you want your home equity to be invested?”
This is a great question. It is a question that could change the course of your net worth. Thanks for stopping by today. God Bless you and yours. marti