THESE ARE THE GOOD OL' DAYS NOW!

Yes, I suppose you could wait for "the bottom" then buy too late. Now that the "talking heads" and the "pundits" (don't forget the blogs of course) glazed the entire public into their way of thinking that real estate "everywhere" is a bad investment the new thing or the new glaze now is "recession".

Meanwhile back in the little corner we call the northwest, things are not as bad as they seem. Yes, we have been impacted also but there are very good deals out there right now. All you have to do is look and for those who have lived here for 15 years or more know exactly what I am talking about.

If you purchased a home a couple years ago and need to sell it is going to be tough obviously. That is a small percentage around here. That does not mean real estate is a bad investment in the northwest. It means you had the bad luck of timing.

On the finance side of things rates couldn't be better. Yes, FNMA, FHLMC and others have put additional risk costs into the rates and have puckered up some on the guidelines but there is 100% financing, FHA loans (if passed & signed) will require 1.5% down payment (3% currently), VA hasn't closed their doors, all the other traditional financing is out there so the sky is not falling.....really.

I get a chuckle out of what I saw during the "boom" and what I see now. During the boom everybody watching HGTV or TLC channel wanted to emulate and make the big dollars like they were doing on TV. Find the good deal, throw paint on it and make a hundred grand. Value had left the building (literally) and explains why 25% of the default rate is investment and second homes.

It is like the stock tip everyone gives you and says buy this one because....well by then the value is gone and buying would in most instances (for short term profit) be a bad idea.

So where are they now? They should be looking for properties that have value, pick them up, rent them for the next 18 months since the rental market is propping up some then after a little time fix, paint and sell. One tip- be able to afford it if things don't go exactly as you plan.

My clients get it. They are buying their home or investment property now because they know the rates are about as good as they can get, homes are available at good prices. They know LONG TERM they will come out on the right side of their investment. This is the time to make a move before the band wagon crowd shows up again and prices start to move up again....and it will happen and it is anyones guess when so if you are patient, thoughtful and can afford it, invest now.