Don't Listen to Realtors? You Know Better, Don't You?

We're still talking about buying real estate.  You know, you've been watching the market and you think you should still wait it out...you know, for the bottom. At no time have all the factors been working in your favor. Think of this: interest rates are still at historic lows but they ARE rising. Home prices are depressed, but they ARE rising. So, why are you waiting to buy a home? Oh yes, you don't believe us Realtors.  

Well home sales are starting to improve, and prices are forming a bottom, meaning this could be the investment that represents the best, lowest risk opportunity out there.....

And let's remind you, it's not about just the price of the house, it's about the cost to you each month. Remember as interest rates go up your monthly cost goes up and your buying power goes down. As loan programs change and in particular if the 30 year mortgage goes away with potential elimination of Fannie Mae, your costs will go up. What is wrong with taking advantage of an assest that is at the bottom of its asset class? Why would you buy at the high? Look at the return on real estate over the last decade (see chart from MSN Money provided by our friends at KCM). Nothing beats real estate as an investment.

Housing is back. Because of the new affordability, low interest rates, low sales prices of homes, these factors will bring buyers back to the American housing market. How about you?

Jacquelyn Nunez, Exit Realty Associates, Lorton Station Blvd, Lorton, VA -- 703.339.7506.