In case you are wondering if there will ever be a change in the market, take a look at this price index report and graph for June. Here in the midwest, we don't see the changes as quickly as the East and West coasts but, it appears that very thing is beginning to happen now. Who knows how long, how strong or how fast it will change but, you can bet it will change.
I was out of town last week and came upon an article in Nashville Tn from a guy who said that now is NOT the time to buy real estate!!!! I was in complete shock!!! It appeared from the photo that he was old enough to remember the mid 70's when real estate was extremely tough. At that time, if you could get a mortgage for 15%, you smiled all the way to closing and prices were not supressed like they are now. Jump forward 35 years and interest rates are less than 4% and prices are the lowest they've been in years! And he says now is NOT the time to buy????? Does he think we'll be giving away real estate????? I'm telling you, now is a GREAT time to buy real estate. Actually, ANYTIME is a great time to buy.....IF you buy right and buy smart. You can't just buy anything and everything no matter how much money you have and no matter how bad or good the market is. Be smart, have a plan and execute the plan. You can always make money in real estate.
Have a fantastic week and outstanding Labor Day Weekend. Be safe!!
Mark
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