Has there been a time in the last 3 years when you’ve heard a realtor say “Wow, this is a really terrible time to buy”? No. In fact, we keep hearing reasons why it’s “a great time to buy” real estate.
Everybody’s situation is different, so the truth really depends on your individual circumstance. However, the facts and the recent individual experiences of most of our clients indicate that it is, indeed, a good time to buy. And a sense of urgency is justified.
But before we get to the facts, let’s do a gut check. How do you feel? Setting aside the fear for a moment, what is your gut instinct telling you? How we feel, collectively, is just as important as the facts because the market is driven by expectation and “the facts” are just a backward-looking description of the result of expectations acted upon.
I came across the graphic below that illustrates why now may truly be a great time to buy.
None of us can predict the future, but a banker I work with frequently has put together an interesting analysis (with specific numbers) that depicts a variety of scenarios dealing with interest rate and price level changes; the examples he gives provide a compelling case for acting now. And for buying rather than renting. Here’s the link:
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