To be honest, this is probably not the best time to sell your home, unless of course you are a distressed seller, needing to get rid of that ridiculous mortgage. Homes are still being sold, however most of them at a deep discount. People are very hesitant to buy at this uncertain time in our economy. If you don't have to sell, I suggest waiting until spring time and see how things are going at that time. Let's hope for the best, as the new president takes over.
On the other side, investors are loving this market, able to purchase homes at a great bargain. If you have cash, or great credit, this is the best time ever to buy a home. Interest rates are still around 6% or better. You can buy a home today and have instant equity, if you buy smart.
But I do have to offer this piece of advice: If you have a lot of debt or you don't have 10% to put down on a home, maybe this isn't the best time for you to consider buying a home. The first problem you encounter as being a home-owner may be enough to turn home ownership into a curse, instead of a blessing. Be smart! We don't need any more foreclosures.
I want the clients I work for to be happy in their new home for many years to come. Putting people in homes they can not afford are setting them up for failure.
Make it a great day!
2 comments:
Real estate is one of the best businesses now a day. Nice real estate blog. Thanks
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Good thing you have done here, Thanks! This is a pretty up beat post about real estate that I am quoted in.
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