If the bottom is here why not buy now?

[Michael Ubben]

Right now could not be a better time to buy a home! The primary difference is right now in the state of Colorado we are not "down" we are just slower than the last 5 years that have been historically high! It’s really all the "bad press" that you hear daily which suggests things are bad. If I told you several times a day that you look sick - and I continued to tell you that day after day – eventually you would start to actually feel sick!

What's going on in Colorado real estate right now is just simply symptoms of the above. Most of the issues are not reality based for our regions true statistics. Based on 10 year averages we are just slightly behind the curve for average amounts of sales. With interest rates still at 30-40 year historic lows, buying a home right now is a great deal. You will be able to take advantage of the folks feeling "sick" and who will be happy to "sell with out much of a challenge to your offer – since they have accepted that things are bad! Investors should be scooping up all these cheap houses on the market.

The final and most important reason to buy now is – prices have been flat for several years in our area – if you buy now, you will be in a position to ride the real estate wave back up - instead of waiting until you read "good things" in the media reports again – by then it will be too late to capture a great equity position in the near future by purchasing a home right now!

I think real money is to be maid in buying houses cheap right now or investing with a smaller builder on a specific project.