Is it a good time for you to take advantage of our buyers market?

 

It’s time to take advantage of a great buyers market. Or is it? Most of us in Real Estate are dumbfounded. Why is the market so slow? Where are the buyers? The answer, consumer confidence is down. Many people are in fear of keeping their jobs, let’s face it a lot of people have already lost their jobs. People are losing their homes all around us. The fear is high right now. Should you be fearful? I can’t tell you the answer to that. What I can tell you is if you are in the position to buy a home there is no better time than right now. Interest rates are low and falling. Home prices are low and falling. Where is the bottom? Your guess is as good as mine, but remember Real Estate is an investment it’s a long term investment if you are in the market to buy a home that you plan to stay in for the next 7 to 10 years what’s the risk? The risk is low. The only thing certain is change and this too shall pass. Market analysts have been predicting a shortage of homes over the next 5 years. Why? Because builders have stopped building but the military bases in our area have not stopped sending troops here, kids have not stopped growing to adult hood and wanting to enter the home market.  The job market is still relatively strong here. So the building is not keeping up with the supply that is growing. Chances are we are going to see that shortage of homes the same way we saw the bubble burst in the market that was predicted but no one believed it. In the same way no one believes there will be a shortage of homes.

We will not see another market like we saw in 2003 nor should we. The Puget Sound area had a steady growth for 40 years of about 3-5% before 2002 then all hell broke loose. So we will not see the kind of growth we saw between 2002 and 2007 but what we will see is a steady paced growth and that is what we want. Should you buy right now? That is a decision you should make looking at your current circumstances but if you can buy you should. We can’t time the market, we all wish we could but we can’t. When is absolute bottom? We won’t know until we’ve passed it. So if your circumstances warrant purchasing a new home and you plan on staying in that home for more than 5 years you should buy. Puyallup offers one of the best values in the area. Now is the time to buy if your finances and your job outlook allow that.  Love to see you in Puyallup!

My Best,

Vanessa

Speak Your Mind

*