Is Now The Best Time To Buy, Warren Buffet Thinks It Is
I have always been impressed with how resilient our Albuquerque real estate market has weathered the housing downturn that has devastated home values throughout the Country.
As a Realtor and a real estate investor I have always been confident about the eventual upturn in our market. Currently Interest rates are at record lows (below 4 percent) and housing inventory is abundant with many opportunities to either invest or purchase that dream home. I understand that buyers are hesitant for fear that home prices will continue to fall, but after reading a recent quote by Warren Buffet giving this advice to his secretary telling her:
“that it will be the best opportunity in her lifetime. Mortgage rates are low and prices have dropped dramatically...."
Well that really had me thinking. “Best opportunity of a lifetime” Hmmm…
Well only time will tell and there are no guarantees in life. But consider this, housing inventory is on the decline, home sales are up and Mortgage rates are at historical lows. It is simple economics “Supply and Demand” as demand goes up supply goes down and well we know what happens to prices, yes you guessed it they will eventually climb. Now ask your self is this the “Best opportunity of a lifetime”? It’s hard to say and since I lost my crystal ball I can no longer predict the future I can’t guarantee you years of appreciation but if you are considering buying a home you should do it now. Think about it, this is real property were talking about and with good advice from a Realtor you can now buy that home that just a few years ago you thought was out of your reach. My advice to you is obvious and in my opinion Real Estate is still the safest tangible investment you can make. I would love your feedback on this topic.