WHY NOW MIGHT BE THE PERFECT TIME TO BUY A HOUSE

Everyone is at the grocery store. Trust me. I know this because I was there myself yesterday and had to fight my way to the check out line. Thanksgiving and the holidays have taken hold on the population in a big way. Perhaps it's because people are aching for something positive in their lives after the deluge of terrible news we have had in the past two months. The holidays offer wonderful escapism for a depressed populous.

Locally, the real estate market has slowed to a snail's pace. While we have lots of qualified buyers, they are, for the most part, sitting on the sidelines waiting for something to happen. Personally, I think this is a big mistake. Unless someone enjoys the herd mentality, now might be the best time ever to buy a home. Since no one else is too motivated to write offers at this time, there is a good chance prices are very negotiable. We know the interest rates are incredibly attractive. So we have some of the compelling components of ideal buying power: High inventory, low interest rates and lackluster interest from buyers.

If someone is interested in keeping a property for a few years, this is a great time to buy! Sure, prices may still decline a little, but meanwhile, they can enjoy living where they want to live and reap the benefits of home ownership. Mind you, this is not a flipper's market. No one can honestly say this is the climate for fixing up and selling a house. But, with patience, we will eventually return to those wonderful times when home ownership and owning an appreciating asset were synonymous. Historically, in California, homes have appreciated an average of 8% per year over the last 30 years. So, while we may be wincing in pain now, let's take the long view. There are some amazing buys out there. Check them out!