Is It Time To Jump Back Into Real Estate?
Just seven years ago, we were in a red hot real estate market for the ages. Borrowing money was cheap and easy. Homes were being built like Paris Hilton spends money. Average home prices skyrocketed.
As we sit here in 2007, things have changed just slightly. The real estate bubble has not burst. It has exploded. With a very loud bang! Such is the cycle of life in the world of real estate. We go through hot and cold spells, and now is definitely a bit chilly.
The question for many is whether this is as bad as it is going to get in the real estate market. If so, doesn't that mean this is actually a priime time to be investing in property? There are a number of ways to look at it.
The bottom of the real estate market. For a buyer, it is the golden target. The goal is to buy at the very bottom of the market so you can reap the rewards as it rises. The problem is nobody can identify it, so don't think you can.
Don't follow the herd. Nobody made money investing in what the majority is doing. To make the big money, you need to be ahead of the curve. That means buying when everyone else is not such as in this real estate market.
While you can't predict when the bottom of the real estate market will occur, it is vital to understand it will bounce back. Yes, it may take three to five years, but it will occur. Buy now and you could really reap huge equity gains in a few years.
To buy a home, you are going to need a loan. Given the disaster in the mortgage industry, is anyone lending money anymore? Of course. Most of the mortgage problems are occuring with bad credit lenders only.
Many people associate buying a home with the end of having fun. It is not. You are simply being smart. You will make more money living in your own home instead of renting. You are ready to buy, so do it.
At the end of the day, you have to take the real estate leap of faith on your own. Millions have done it. Don't be afraid of the bad news you are hearing. If you buy within your financial comfort level, you will be happy you took the step.
As we sit here in 2007, things have changed just slightly. The real estate bubble has not burst. It has exploded. With a very loud bang! Such is the cycle of life in the world of real estate. We go through hot and cold spells, and now is definitely a bit chilly.
The question for many is whether this is as bad as it is going to get in the real estate market. If so, doesn't that mean this is actually a priime time to be investing in property? There are a number of ways to look at it.
The bottom of the real estate market. For a buyer, it is the golden target. The goal is to buy at the very bottom of the market so you can reap the rewards as it rises. The problem is nobody can identify it, so don't think you can.
Don't follow the herd. Nobody made money investing in what the majority is doing. To make the big money, you need to be ahead of the curve. That means buying when everyone else is not such as in this real estate market.
While you can't predict when the bottom of the real estate market will occur, it is vital to understand it will bounce back. Yes, it may take three to five years, but it will occur. Buy now and you could really reap huge equity gains in a few years.
To buy a home, you are going to need a loan. Given the disaster in the mortgage industry, is anyone lending money anymore? Of course. Most of the mortgage problems are occuring with bad credit lenders only.
Many people associate buying a home with the end of having fun. It is not. You are simply being smart. You will make more money living in your own home instead of renting. You are ready to buy, so do it.
At the end of the day, you have to take the real estate leap of faith on your own. Millions have done it. Don't be afraid of the bad news you are hearing. If you buy within your financial comfort level, you will be happy you took the step.
