There is no rock solid guaranteed way to predict what our current market is going to turn into. Is the economy on the verge or collapsing, or is this really just a normal adjustment after many years of positive growth? I’m far from an economist, financial expert, or market watchdog, but it is my honest and humble opinion that things ARE going to get better and this is the best time to buy.
I grew up watching my father sell real estate with outrageous interest rates and tough times. You knew when you signed on a listing that you were going to have that listing for a while, and it was going to take lots of effort and hard to come by money to get it sold, just so that you could try to recoop your expenses and earn a living. I also watched my father make deal after deal come together, and on top of giving me a wonderful childhood, he was able to give good counsel to those who didn’t know which way was up. Not one of those clients is complaining today. Most have seen what a remarkable market Hot Springs is, and have reaped the benefits of owning property here.
It was tough to buy a house, and even tougher for the average working man to buy one needing a huge down-payment, but people did it. They figured out a way to make it happen. Real estate has never been something thats easy, but if you have the right attitude and a little bit of knowledge you can make it happen. He figured out a way to make it happen, just like so many “old-time” REALTORS have done and been doing for many years.
I got into real estate in the “boom.” It won’t say it was easy, but it wasn’t like anybody with a real estate license had to bend over backwards to make a decent living either. You had a small inventory, and people knew if they wanted to get in a house at the lowest possible price you had to act fast. Show, sign and sell…….it almost happened without having to think about it.
Today, we have a better and greater inventory, but buyers are much more reluctant to jump into buying a home. Why you ask? The economy? Future of jobs? Election year? Lender and loan concerns? Fear of commitment to a loan or payment? or just letting loose of what cash they have saved up?
The answer isn’t just one of those, it’s all of those plus a whole other bag of questions and concerns for some. But the underlying need is still there, and people will continue to buy and sell homes. It’s up to me to make sure that those needs and concerns are met and satisfactory to today’s buyers, but overall this is probably one of the better times to buy a home. Some sellers are nervous and fear sitting on the market for many months with no real since of security that they can sell their home and move on with their life. They have put themselves out there, listed the house (and here is where it gets interesting) and have established what they see as a fair price for their home.
Say your looking for a house under $150,000. You need 3 beds, want 2 baths, and love to cook so a good kitchen is a must. You don’t want to remodel or rehab a home to make it “right” for you, so you need something move-in ready. Do you think you could find one?
What if I told you I could get you in a home that in 5 to 10 years would be worth at least $20,000 more than you paid, and could get you that house for under $140,000. Think I’m crazy? There are over 250 homes in our local market that meet those criteria. Could you buy them all for under $150K? NO, I can’t predict what each individual buyer is going through and has in mind. But it only takes one, and with the right approach just about every one of those homes under $150,000 could potentially be yours. We can and will find you the right home, and work hard to get that “motivated” seller truly “motivated” to sell you his/her home.
You’ll get good schools, great neighborhoods, and you get to enjoy the benefits and pleasure of owning your own home, not to mention building credit, equity, and a pride of ownership that comes with having something as cherished and valued as a home.
It’s mostly about attitude and how you see things. I’m not going to try and sway you, or change or thinking, but an open mind, and the desire to better your situation should allow you to see that this is the RIGHT time to buy a home. Rates are at near all time lows, loans are available, and people are more open to wheeling and dealing to make something happen. You just can’t be afraid to be different, and separate yourself from the crowd and make that first step.
If George Washington and our forefathers hadn’t taken that first step we might not be the great country we are today. If you never mustered up the courage to do or ask, you never gained anything. If you simply sit idly by and do nothing, guess what your going to get.
Take that first step, ever cautious as you want to be, and know that nobody can force you to do anything. If it’s not right for you, and you truly believe that, then don’t, I know I personally am not going to take offense or get upset becuase someone has looked and weighed all the options and doesn’t feel right about purchasing a home; but don’t think that just because everybody else is scared that you have to be. Educate yourself, be informed, and make the best decision you know how, and in the process of doing so I think you’ll see what I see.
A bright, positive, viable future. We have made it through every obstacle that has ever come down our way, it is no time to just sit on our hands and do nothing. This year is going to bring incredible change, its up to you which way that change affects you.