Now is a Great Time to Buy!

The market is panicking; home values are declining; stocks are plummeting... how can this be a great time to buy?

The simple adage, buy low, sell high, is an economic basic.  We've seen how high high has gone in recent months, days, or years, depending upon what investment you're looking at, whether it's been oil, stocks, bonds, or real estate.  For purposes of this article, I'm talking about real estate.

In some sectors, real estate has begun to take a pounding (and rightfully so); in others the market has merely softened; and almost nowhere has real estate continued to move up unscathed by recent events.  I'll call this last scenario "santa claus" because I just don't think many of us have seen the real thing.

In areas where the housing market as imploded, my word is this - foreclosures!  You've already seen them and there will continue to be more, so get ready for the opportunity to purchase for pennies on the dollar.  Be careful, there can be some real lemons however.

In markets such as my own in Denver and Douglas County Colorado, the housing market has just been a bit soft.  This is, as far as I can tell, an ideal situation.  There isn't an air of panic that is forcing prices into a deflationary cycle, but there are good deals to be had.  Especially in the Denver area, I also see how, by sitting on the sidelines while the rest of the country was going real estate nuts, we will now be the beneficiaries of appreciation while the majority of the country licks its wounds.  Soft but not clobbered markets will, in my opinion, see the best appreciation in upcoming years.  Now is the time to get in on a ground floor.

Whatever you do, please do not try to "time" the market, or interest rates, or anything else.  For goodness sakes, if you're thinking that that's what you want to do, all I can say is, "Haven't you learned anything over the last eight years?"  As my Dad says, "Pigs get fat, hogs get slaughtered."  Be happy with "almost" timing it perfectly.  Otherwise, one of these days, you'll be telling "fish" stories about how you almost hit it big way back when.

If you are considering buying in or moving to the Denver Metro area, I encourage you to contact me as one who will serve and assist you professionally in these tricky times.

Greg Polashock is a Real Estate Home Mortgage Loan Consultant and Certified Mortgage Planning Specialist with Cherry Creek Mortgage and resides in Castle Rock, in Douglas County Colorado.  He can be reached via email at Greg@GregIsFinancingSolutions.com, by phone at 303-887-0672 or on the web at http://www.gregisfinancingsolutions.com/.