Showing posts with label time to buy. Show all posts
Showing posts with label time to buy. Show all posts
Thursday, May 31, 2012
Wednesday, December 30, 2009
BUY, BUY BUY!!!
Well folks you've heard it over and over again, Now is the time to buy.
According to NAR president Vicki Cox Golder, “Inventories have steadily declined and are closer to balanced levels, which indicate home prices in many areas are either stabilizing or could soon stabilize and return to normal appreciation patterns,” she said. “This means buyers still have good choices but are purchasing near the bottom of the price cycle with historically low mortgage interest rates. Throw a tax credit on top and it really doesn’t get any better for buyers with secure jobs and long-term ownership plans.” A very important thing to remember is that we don't know when we "hit bottom" until it has hit and prices rise, so don't miss the boat!
You can get more for you buck according to housing researcher Global Insight, which found housing values were about 10 percent undervalued, based on a model that examines interest rates, household incomes, population, and historical price patterns.
According to a study by Local Market Monitor for Forbes magazine, on average, housing markets on the West Coast lost the most value – 21.6 percent since their peak. Florida lost 31 percent. The Northeast lost an average of 8.6 percent, and the Midwest on average lost only 5.6 percent. Check out my FEATURED PROPERTIES!!!
Question? Comments?
Contact me
RealEstatewithRuben@gmail.com
SEE YOU AROUND THE NEIGHBORHOOD!
Wednesday, April 8, 2009
6 Reason why YOU should buy NOW
Properties are moving, the foreclosure inventory is decreasing and our new
Obama administration is lending a hand.
Here are six reasons why YOU should buy NOW!
- Hail to our new Prez - First time buyers are entitled to a maximum $8000 tax credit, interest rates are at a record lows and our Federal Reserve is doing what it can to make those seemingly impossible loans possible.
- Either by pro-creating or adopting like Madonna and Branjolina and by our VERY generous immigration/naturalization policies increasing our household count by 800,000 a year. WOW!
- It's simple math, borrowers leverage their investment - If you put $10,000 into the stock market and it earns 10 percent, you’v
e earned $1,000. If you put $10,000 down on a home and its values increases 10 percent, you’ve made $10,000. - Instant equity - With all the foreclosure movement driving prices down, when the market zooms back up as it always does, you will rapidly gain more and more equity.
- Your mortgage costs WILL stay the same - As I suggest to ALL my clients FIXED RATE ONLY, your monthly payment stays the same while everything around us goes up, including rent.
- It's my house and I live here - Diva Diana said it all it that phrase (oops I dated myself again) Oh well there is nothing more comforting than owning your own home. You can paint what you want, let you pooches run free in the yard and have that piece of mind that security brings.
...yet another reason to BUY NOW!
According to the National Association of Home Builders, buyers could be gearing up for a return to the market.
In a survey for Century 21 Real Estate last month among prospective first-time home buyers who indicated they were likely to purchase a home in the next two years, a majority – 78 percent – said that now is a good time to buy a home. Of those responding to the online poll, 68 percent said that now is a better time to buy than six months ago.
And its not just good news there. The new home market is seeing promising numbers as well. Single-family permits were up 11 percent in February.
"With afforda
bility up dramatically, reports from our builders in the field indicate that foot traffic in new homes is on the rise and consumer interest is increasing with each passing day. These are encouraging signs that the housing market may be finally reaching a bottom," said NAHB Chairman Joe Robson.
So why wait, even if you think you don't qualify now, get a plan going so that you can qualify. Without the facts and a plan you may miss the opportunities that are waiting for you.
Contact me and let's get started today!
See you around the neighborhood!
Friday, May 23, 2008
Home Buyers, Start Your Engines
If you were thinking of buying a home, start looking.
The latest data from the housing market shows that sellers, after months and years in denial, are finally giving in to reality and slashing prices.
There is a distance still to go. There may even be a lot to go. But the process, long delayed, is now well underway.
The National Association of Realtors on Tuesday released its long-awaited report on prices from the first quarter. The price drops were startling.
In many of the former hot spots, from Florida to Nevada to the Californian "Inland Empire," single-family home prices plunged by 20% to nearly 30% in a year.
Even more remarkable was how far prices had fallen just from the previous three months. In greater Las Vegas, for example, single-family home prices are down about 20% compared to the first quarter of 2007… and about 9% compared to last fall. In certain parts of California, the quarter-on-quarter declines are more than 10%. And there are similar pictures from Boston, Mass., to Tucson, Ariz., to, well, lots of places in Florida.
Nationwide, the decline from the previous quarter was about 5%, says the NAR. And this, ultimately, is good news. We know prices have to fall. The sooner it happens, the quicker the market can clear. We may not be at that stage known on Wall Street as "capitulation," but there is more than a whiff of it in the air.
Far too many people in the real estate market have spent far too long insisting that denial is just a river in Egypt. They refused to accept there was a bubble on the way up, and refused to admit it even on the way back down. (There's a few still out there: Last week I got an angry email from a broker who blamed the whole slump on "the media".)
It is simply remarkable how slow this bubble has been to deflate. That, bluntly, is part of the problem.
In the Las Vegas area, for example, NAR data shows single home prices peaked in early 2006. Yet by the middle of last year, when everyone and their Aunt Sally already knew we were deep into the biggest housing bust since the Great Depression, prices had only been cut by around 4%.
No wonder sales volumes collapsed and the number of unsold homes skyrocketed.
You can imagine what fantasies the sellers were clinging to. "Well, two years ago this home was worth half a million bucks."
The problem: So what? It doesn't matter what prices were three or two years ago. We were in a bubble. Market psychologists call this "anchoring", because people anchor their expectations to the past, and it's a fallacy.
Just five years ago, the same home sold for $270,000 and 10 years ago just $200,000. Are those relevant anchor points too?
Fact: Even though Las Vegas single family home prices are down about a quarter from their peak, NAR data shows they are still nearly 45% above their levels in early 2003.
The picture is similar in other former hot spots.
It remains to be seen how much further prices have to fall.
As always, quality and scarcity command a premium. But remember that a burst bubble is still a burst bubble and everything is affected.
Cisco Systems is a top quality technology company with real profits, but its shares still fell about 80% in the dotcom crash.
There is no desperate rush to buy real estate. (The best way to play the real estate crash was to buy the homebuilding stocks when they bottomed out in January, as written in this column at the time.)
But sellers have at least returned to the bargaining table. If you are in the market for a home, it is time, cautiously, to take a look and, maybe, see if you can play, "Let's Make A Deal."
Copyright: By Brett Arends, The Wall Street Journal
The latest data from the housing market shows that sellers, after months and years in denial, are finally giving in to reality and slashing prices.
There is a distance still to go. There may even be a lot to go. But the process, long delayed, is now well underway.
The National Association of Realtors on Tuesday released its long-awaited report on prices from the first quarter. The price drops were startling.
In many of the former hot spots, from Florida to Nevada to the Californian "Inland Empire," single-family home prices plunged by 20% to nearly 30% in a year.
Even more remarkable was how far prices had fallen just from the previous three months. In greater Las Vegas, for example, single-family home prices are down about 20% compared to the first quarter of 2007… and about 9% compared to last fall. In certain parts of California, the quarter-on-quarter declines are more than 10%. And there are similar pictures from Boston, Mass., to Tucson, Ariz., to, well, lots of places in Florida.
Nationwide, the decline from the previous quarter was about 5%, says the NAR. And this, ultimately, is good news. We know prices have to fall. The sooner it happens, the quicker the market can clear. We may not be at that stage known on Wall Street as "capitulation," but there is more than a whiff of it in the air.
Far too many people in the real estate market have spent far too long insisting that denial is just a river in Egypt. They refused to accept there was a bubble on the way up, and refused to admit it even on the way back down. (There's a few still out there: Last week I got an angry email from a broker who blamed the whole slump on "the media".)
It is simply remarkable how slow this bubble has been to deflate. That, bluntly, is part of the problem.
In the Las Vegas area, for example, NAR data shows single home prices peaked in early 2006. Yet by the middle of last year, when everyone and their Aunt Sally already knew we were deep into the biggest housing bust since the Great Depression, prices had only been cut by around 4%.
No wonder sales volumes collapsed and the number of unsold homes skyrocketed.
You can imagine what fantasies the sellers were clinging to. "Well, two years ago this home was worth half a million bucks."
The problem: So what? It doesn't matter what prices were three or two years ago. We were in a bubble. Market psychologists call this "anchoring", because people anchor their expectations to the past, and it's a fallacy.
Just five years ago, the same home sold for $270,000 and 10 years ago just $200,000. Are those relevant anchor points too?
Fact: Even though Las Vegas single family home prices are down about a quarter from their peak, NAR data shows they are still nearly 45% above their levels in early 2003.
The picture is similar in other former hot spots.
It remains to be seen how much further prices have to fall.
As always, quality and scarcity command a premium. But remember that a burst bubble is still a burst bubble and everything is affected.
Cisco Systems is a top quality technology company with real profits, but its shares still fell about 80% in the dotcom crash.
There is no desperate rush to buy real estate. (The best way to play the real estate crash was to buy the homebuilding stocks when they bottomed out in January, as written in this column at the time.)
But sellers have at least returned to the bargaining table. If you are in the market for a home, it is time, cautiously, to take a look and, maybe, see if you can play, "Let's Make A Deal."
Copyright: By Brett Arends, The Wall Street Journal
Buyers it's time to start shopping around, especially you first timers!!! As I mentioned before inventory is high, interest rates are low and FHA is going STRONG... Don't miss out on a great opportunity, FIND YOUR NEW HOME!!!
This Sunday, May 25, I will be holding an OPEN HOUSE at 800 Pacific Ave #305 between 12 - 4pm. Great buy @ $179,500! Scroll down to view slideshow of property.
See you around the neighborhood
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