Basic investment strategy that has stood the test of time is....Buy Low, Sell High. This holds true for real estate as well. Now is the best time in many years to be able to buy real estate at its lowest!
Actually, we are seeing signs that real estate is starting to pick up. Interest rates are at a 50 year low, high inventory has caused better values and more options, and throw in stimulus programs such as the $8000 tax credit and down payment assistance (yes, there are programs still out there that help with your down payment) all contribute to this being the best time to buy real estate. Whether you are looking for your personal residence or investing in real estate. Don't delay! This is the perfect storm!
This means don't delay if you want the biggest return on your investment. Today it could cost you hundreds of dollars LESS each month to own a bigger house than you have now..and definitely if you are currently renting. Why not participate in the American Dream of home ownership when you can own for less than you are renting (remember renting is just you paying someone else's mortgage and providing for THEIR investment - you are putting your money into their retirement, family vacations, etc).
Even if you currently own a home and are scared to sell...NOW IS THE BEST TIME TO BUY! If you are thinking of moving up in size and price of a home, think about this! If you currently own a $100,000 home, and you are sitting there believing the 'doom & gloom' media and wanting to hold onto your home what happens if you wait until next year when we see a 10% increase in home values? Great...your $100,000 home is now worth $110,000! Excellent right! You made $10,000 more on the sell of your home. Aren't you glad you waited!? But wait!
What has just happened to the $200,000 house you wanted to upgrade to? It also increased by 10% so the $200,000 house from 2009 is now selling for $220,000 in 2010. That is $20,000 MORE! WOW! You just waited to make $10,000 so you could spend $20,000. I'm no Economist, but something doesn't sound right. Making $10,000 in order to spend $20,000 doesn't like a good investment. Get the picture?
