August, 2010 – "Ninety percent of all millionaires become so through owning real estate." - Andrew Carnegie

One of the questions I’m asked a lot as people try to time the market is whether now is a good time to buy or should they wait.  It would be great if we had a crystal ball, but in fact, no one does. Here’s what we do know.  They are calling this one of the strongest buyer’s markets in 40 years.  Interest rates are incredibly low making ownership more affordable.  Many think of real estate as a tangible asset worth owning.  And the market will always vary by location and price.

In general, all investments are subject to cycles, fluctuations and certainly there is always an element of risk.  But here are a few of my other thoughts as I look at this market.

-          The opportunities presented by this market are amazing.

-          Real estate is a long term investment.

-          The best time to buy is at or near the bottom.

-          Get rich quick ideas rarely work out.

-          Short term price appreciation is iffy at best.

-          Planning causes a better future.

-          15 year loans need to be seriously considered.

-          Many people have built wealth through real estate.

-          Buy when things are on sale.

-          Unless you consider yourself a risk taker, don’t over extend yourself.

-          Always look at the big picture as you consider the details.

-          Get good advice and complete information before making a decision, not following.

If you would like additional information or want to discuss how this market might impact your current or future goals, please give me a call.