When is the "Great Time to Buy"
Let's ponder this for a second.
2-3 years ago, all of the headlines in newspapers and on television told the general public it was a great time to buy. Interest rates were still historically low and properties were appreciating at a great pace.
Fast forward to today. Now all of the headlines in the newspapers and on television tell us about the horrible state of the real estate market. Home prices are depreciating and nothing is selling (according to the media).
Now I want you to decide when you would have preferred to purchase a home. Would you prefer to have bought when the home prices were inflated and the media was telling you it was great? Or would prefer to purchase a property when home prices are lower, interest rates are roughly the same, and the media is telling you that the real estate market is horrible?
Something to think about.
"When everyone else is walking, run. When everyone else is running, walk" - I can't find who said this first, but I know it wasn't me.
Jason Tangen, GRI - Real Estate Broker Associate with Edina Realty in St Cloud
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