Sep 11 Why are you waiting to buy?
by: Christine
Every time I turn around, I see all the news bout the housing crisis. I am not going to say that we are smelling roses in real estate but I will tell you that now is not the time to sit on your behind and wait for prices to drop. Even the doom-til-doomesday news media has reported that home prices rose 0.1% from the first quarter according to the Office of Federal Housing Enterprise Oversite. Granted, 0.1% isn't something to call home about but it is at least moving in the right direction. Let me ask you a question? Why are you waiting to buy a home? Are you trying to see if home prices will go down? Why wait any longer? You are taking a huge gamble on whether you can gain valuable equity quickly or loose money by the fistfuls. The choice is yours. Here is how it works. If you wait and the prices continue to go down, you will loose money in the home you are currently in. The price of the home you will want to buy will also go down but not at the same rate because you do not have equity in it yet. See what I mean? If you buy now and the price of real estate goes up, you will gain equity in the home you live in. So why not buy your new home now before prices go up any further. Chances are that prices will not go down as fast as they will go up once the market bounces back completely. Also, once the market begins to bounce back, mortgage rates will increase again and that will decrease the amount of home you will be able to afford. I know that most people think the real estate market is a gamble right now. They could be right, but home prices are at an all time low and so are mortgage rates. So now is the time to jump. Haven't you always wanted that garage to park in or that swimming pool to watch your kids enjoy? Don't wait any longer since you might not be able to afford it soon. My last desire is to get you into a dream home that you can't keep. So call me today and let's take a look at the possibilities. They are truly endless here in Broward. Talk to you later, Christine Related PostsWhat's up with all this talk about location in the Real Estate world?To rent or buy real estate? That is the question... Broward County's best realtor for selling your home Upcoming events in Broward County and the surrounding areas Luxury condos are one of the best things going 
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Comment from: Shabba [Visitor]  You've got to be kidding me! Prices aren't going down? What planet do you sell real estate on? In just a couple of weeks interest rates on jumbo loans(over 417k) went from the mid sixes to eight percent. What happens when interest rates go up? Prices go down! What happens when foreclosures go up? Prices go down! What happens when speculators stop buying houses? Prices go down! What happens when the inventory of unsold homes reaches record levels? Prices go down! Name a single factor that would support prices going up, and provide some credible data to support you assertion. Why can't you be straightforward with people and explain how out of line prices are with incomes and what they have historically been? Are there any honest realtors out there? Realtors have gotten away with lying to the public for long enough. Once this storm passes people will finally start to realize how corrupt the Real Estate Investment Community is and believe me they will take action.
 Permalink 2007-09-11 @ 4.20:05 pmComment from: Gus [Visitor] Don't wait any longer since you might not be able to afford it soon. Huh? Permalink 2007-09-11 @ 6.06:26 pmComment from: Christine ADLER [Member]  This realtor isn't lying to anyone, Shabba. The fact is that buying a home right now is a good thing for most people. Depending on how the elections turn out, what the Federal reserve does next time, and where the market goes, the interest rates stand a good chance of going up. ARM mortgages are going up slowly and getting into a fixed rate mortgage now is a good idea.
I hope that home prices go down. That is always good for business but the reality is that homes aren't moving in some areas of the country. Here in Fort Lauderdale, we are still buying and selling and moving real estate so Broward County is still a good place to be in regards to the real estate market. I am glad, however, that you want to talk about it and hope to see you again. Permalink 2007-10-01 @ 12.07:19 pmComment from: Christine ADLER [Member] Gus, I was referring to the probability that interest rates will go up soon and the amount of home a person will be able to afford wil decrease. Permalink 2007-10-01 @ 12.08:19 pmComment on this article This post has no feedback awaiting moderation... |
