Is it a good time to invest in real estate now? or is the market still falling?
The answer kind of depends upon where you are looking to buy the real estate, but generally I would say "yes" it's a good time to buy real estate. The normal trend is for real estate to increase in value and interest rates are very close to decade lows. There's no need to hurry or anything like that, but it would be a good idea to buy before the market turns around and interest rates go up. It's a buyers market, so go out and find a bargain. Keep in mind that owning real estate is a lot more than just paying a mortgage. There are a lot of other expenses. But it's nice to have your own place.
Most areas of the U.S. are still having problems with falling prices but there are some that have been effected very little. In Alaska where i was a Broker for 30 years the land values have steadily gone up. San Francisco, Nyc and many others are turning around and appreciating in value. So to invest you must know the market, if the prices sart to move cautiously jump in. It is not like it used to be nobodiy is going to get rich quick now.
Thank you! I'm considering the SF Bay area, which things are still feeling very uncertain. But the happiness of knowing you never have to move and owning your own place are definitely good points. Peter - you are so right. No way of getting rich quick in these uncertain times
Real estate is local. In some markets, the bottom was in 2009 and others it is still falling. Have your real estate agent provide a market report for your town and even better, the neighborhood that shows average sales price, median sales price and units sold for the past 3-5 years. This trend analysis will help you understand where the market was and where it is going.
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