WSJ: “Its time to Buy”
August 1, 2009 by admin
Filed under Positive Real Estate
Fear of overpaying for property is common these days, especially in places like New York where prices continue to be unstable.
Waiting for the right time can be expensive. Some buyers would have more equity today, despite falling prices, if they had bought when they were first considering it, instead of continuing to pay rent. Financing is fickle. Some people who were highly qualified last year can’t find financing this year because the credit market has tightened or their personal financial situation now makes them an undesirable borrower. Interest rates are headed up. If prices decline by another 10 percent, but interest rates increase by 1 percentage point, the monthly payment will be the same.
Source: The Wall Street Journal
Affordability is Back!
April 10, 2009 by admin
Filed under Positive Real Estate
- 55 million families-or half of all U.S. households-can afford today’s $200,000 median-priced new home (National Association of Home Builders (NAHB)
- A typical family today can purchase a house with $20,000 less in household income and save nearly $500 per month on their principal, interest, taxes and insurance. The number of households that can afford to purchase a home today is 55.4 million, compared with 38.4 million two years ago, according to figures compiled by NAHB.
- Single-family permits were up 11 percent in February, new and existing home sales also posted gains and the huge inventory backlog is being slowly whittled down.
Why now is the best to buy real estate
April 9, 2009 by admin
Filed under Real Estate Articles
The Market Will Rebound
Don’t believe me? It will someday that’s for sure. But who cares if it isn’t today? Let me tell you why.
Interest Rates are Cheap now and they won’t always be.
Property is Affordable Now and won’t always be.
Right now you can buy a property and because of historically low interest rates it will cash flow.
Rates are terrific, prices are low. Properties cash flow. If prices continue to drop for the next few years, and you are cash flowing so what? They will go up soon enough. Again you are cash flowing. Nothing is 100% and guessing games are for losers(with all respect to Alec Baldwin in Glenn Gary Glenn Ross). Now is the time to buy real estate.
If you do not believe that now is the time to buy real estate then you do not believe that real estate will go back up.
But one thing you had better believe interest rates will.
I had a talk with a pal of mine yesterday. He said that people are saving money now while making less.
But the geniuses in Washington just printed three trillion bucks! Those bucks are not circulating because like my pal said, everyone is gun shy and holding onto dollars. When things look half way good and some optimism starts flowing again, all those dollars are going to flood the system. Prices will rise for everything. And the guessers will get locked out again.
Papers on Both Coasts Say Time To Buy Real Estate Now
December 23, 2008 by admin
Filed under Positive Real Estate
It May Be Time to Think About Buying a House
Five or 10 years from now, when the financial crisis has ended and housing prices are up smartly once more, we will look in the rearview mirror and realize that we missed a golden age for first-time home buyers.
We’ve pretty much blown through the first couple of stages of grief with regard to the Southern California housing bust.
There’s no room left for denial now that home prices in the Southland are down 44% from their peak in 2007, and there’s not much use for anger.
