Say When!
Posted by Mark Bartikoski with RE/MAX Results
Visit Mark's web site at coolshax.com.
For over a year, I've heard buyers, sellers and agents all say they're waiting and watching and wondering when the market will hit bottom. Or start to pick up. Or whatever. Everyone is waiting for someone to say "when." But the fact is "when" is entirely up to you. It's always the right time to do something in real estate. The trick is in discovering what that something is at any given time.
The calendar says it's supposed to be spring. The media say the market's supposed to stay down. The government says we're supposed to patient. But from what I see, I'd say they're all wrong.
My phone is ringing more every day from homebuyers ready to get in the game; to pull the proverbial trigger; to make their move instead of obsessing over market trends and media reports. And that's what moves the market. It's called a consumer driven economy because consumers are in the driver seat and when they step on the gas, we all move forward. The reality is there's a great selection of homes on the market at prices we haven't seen in years and mortgage rates that are virtually unheard of. Do you really need anymore incentive than that? Say when!
That homebuyer triple play of selection-pricing-financing could become a home run if you cover all the bases and keep your eye on the ball. First, make the decision to buy a home at a bargain price with a nice low interest rate. (If you're a first-time homebuyer you could also benefit from an $8,000 tax credit - but you have to make your move before year's end).
Then, while you're patting yourself on the back with one hand for being the shrewd real estate tycoon you always knew you could be, use the other hand to pull some funds out of that ever-shrinking 401K and buy a couple of bargain-priced income-producing rental properties. By taking advantage of all the same factors that put you into your home, you'll not only have an investment that generates positive cash flow but also provides depreciation factors that save you money on your personal income taxes.
If you've been waiting for someone to say "when," stop waiting. It's always when. So, go. Now. Do it. Do something. When!