Man if I hear one more article or broadcast about the market being so bad I may just scream. Has it slowed?Sure. Is it tough out there? Sure. But is the market bad? Not really. Are there markets out there that are woese than others? duh. But every market is different, what is happening in Lexington, KY is not the same as Las Vegas. In fact what is happening in one neighborhood in Lexington is totally different than all the rest. The real estate market can not be grouped into a broad generalization. If someone is thinking of buying a home now is the best time in a long time to do so. Why wait until the prices start to rise again? Why wait until rates go up? In fact if anyone is smart enough to predict when the prices will be at thier lowest, or highest do you think they would be on TV? or writing in the paper? Hell no they would be on the beach or swimming in their pool of money like Uncle Scrooge McDuck. Bottom line to me is (and I am putting my money where my mouth is as I am buying as many investment properties as I can right now) over the last 100 or so years what type of investment has been across the board the best, most safe, and easiest to use leverage to purchase? How many pieces of property went to zero value when the "bubble" popped? Answer virtually zero. How many internet stocks and Enron type stock investments went to zero in the early 2000's? A bunch. Not saying thats the only way to invest or that it is something that everyone should go out and buy 10 homes. But with as much existing inventory, and vacant new construction homes that area available, when has there been a better opportunity to buy than right now. This is my take, what do you think? Let me know..... Ty
Posted Wednesday Dec 05
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In Fl we have been declining for 2 years now
I agree that it is a good time to buy. The problem I see is the tightening of the mortgage guidelines.
Good post. I don't know if this is the lowest things will get, but you are right, it is a great time to buy. It seems there are more investors buying houses than homeowners
Hi Ty, Just stumbled upon your blog. Your Scrooge McDuck reference quacked me up. Owensboro's market is not that different from Lexington: one area is hot, while another dull.
After today's low close on the stock market, I'd much rather have the tangible investment of a home, and I know most home owners would agree.
Keep on blogging!
Angela Clark Graviss, Tony Clark Realtors, Owensboro, KY