I keep hearing in the media hyping a double dip recession and how home values have plummeted and we haven’t seen the bottom yet, and to that I respond; really?
I ask people to review the values of property from 20 years ago and set that as a base value. From that point, (baseline), set two separate inclines of value lines, one at 2% and the other at 4% and run a graph out 30 years. If you look at the time lines from year to year, that should reflect the true value of your property right now. If you bought a home built in the “buying frenzy”, (2000-2006), It’s going to be difficult to derive a true property value baseline, so you will have to rely upon a professional realtor or appraiser to reference a value and in some cases, that value could still decline.
On the positive side, I see growing families with goals of larger or nicer homes, people are working and only 11% of the available working population is unemployed.
Real estate is a solid investment if you buy at the right price and you choose the Real Estate professional that has experience in home ownership and real estate investment to serve you. Ask questions and make sure you feel comfortable with the Real Estate professional you are working with. Do not be afraid to ask about the experience of the agent you choose and if they are or have ever been a home owner.
Here are a few examples of questions we answer everyday;
Is now the right time to buy?
What is a “Short Sale”?
I sold my house as a “Short Sale”, can I get financing?
I lost my house through foreclosure, can I ever own a home again or get financing?
Are there programs out there that can help me repair my credit so I may buy a home?
Are there programs out there that allow me to buy a home with a limited down payment?
What can I expect as a return from rental property?
Is every licensed real estate agent a “Realtor”?
Can you still buy homes and flip them for a profit and what are the restrictions?
I have to relocate and can’t sell my home; what are my options?
What is a PUD, HOA, or Condo and what is the difference?
What is a Condo-tel or a Timeshare and what is the difference?
I encourage you to visit, http://www.exitrealtyproducers.com to get straight forward answers to your real estate questions. When is the best time to buy real estate? Right now or when you are ready.