If you are looking for a home to buy to live in, you probably won't get hurt looking for a house to buy now. However, if you are looking for the real bottom in the housing market, either an investment property or a home for yourself, the best day to buy will be November 25, 2009. If you buy on that day, plan on closing December 24, 2009. However, if you miss buying around that time next year, you shouldn't worry about it, as this real estate 'recession' will last for a few years, as it always has in the past. [Unless things will be different this time, which I highly doubt.]
I'm still seeing too many foreclosures, too many vacant homes for sale, too many vacant homes that aren't for sale, and too many 'amateur' and 'newbie' real estate investors jumping into the real estate market, thinking that they can buy a fixer-upper, fix it up, and resell at a quick profit.
Of course, another way to play the real estate market besides owning property directly, is to invest in Real Estate Investment Trusts.
By Fred Fuld at Stockerblog.com
1 comment:
The biggest problem for most people looking to buy real estate is they also have real estate to sell before they can buy. The real winners are those in a decent market who are selling and planning to move to a depressed real estate market - but generally that isn't where the jobs are!
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