Kick in the Butt
RE/MAX International is running a TV ad showing buyers kicking themselves in the butt because they didn't take advantage of the real estate market when things were great.
If you are waiting for the housing market to bottom out your are already to late. Mortgage rates are on the rise as well as the Stock Market and Gas Prices. The Fed is worried about inflation which is not a good sign for interest rates.
Now is the time to buy. Interest rates and home prices are still at an all time low. The Fed is giving first time home buyers a $8,000 tax credit. Which by the way ends Dec 1, 2009. So what are you waiting for? I'd hate to see a lot of people kicking themselves in the butt because they didn't take advantage of todays real estate market.
Comments (2)
Hi Joshua, "Were things Great" When interest rates were below 5% and it didn't take forever to close on a short sale. If you went contract when rates were below 5% and close when rates are at 6% it cost you $63.00 more a month for $100,000 loan. We are also seeing multiple offers on REO and Short Sale properties. Remember the saying "You snooze you lose". The market is changing every day. Just look at gas prices.
Ed Pichette, about 15 years ago
I seem to remember Re/Max and every other national brokerage, including the NAR, telling us that now was the best time to buy a home -- and that was when the housing market was at its peak. When exactly "were things great" according to the company? I'd love a clarification.
Joshua Dorkin, about 15 years ago