Real Estate Roadblocks – When is the Right Time to Buy?

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Filed under: Market Comentary

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This morning a read an article in the news that talked about how Uber and Lyft are both going public right now, and it is actually having an impact on Bay area real estate. People are pulling houses off the market waiting for new millionaires and billionaires who will be ready to buy. The anticipation is that there will be a flux of demand for high-end properties.

In my opinion, it is safe to assume that these local market predictions are correct. The Silicon real estate market is insane, so it is interesting to see the trends that happen in that area.

For all of the other real estate markets out there, it still begs the questions: when should I list my house? When should I think about buying? What are the best real estate opportunities out there?

You Can’t Time the Real Estate Market

The most realistic answer is that you can’t time the market. Even when you look back at 2009 and 2010, everything pointed to the fact that it was a good time to buy. But even in 2008 when things were trending down, it also looked like a great season to buy at the time. No one knew that the market would continue to drop.

Timing any market is virtually impossible. Yes, values are up and it seems like prices are starting to level out. The one thing that you need to remember is that other factors will affect your individual situation:

• Don’t forget about interest rates: The available, current rates are still amazing based on historical trends, so don’t overlook the benefits that come from a low-interest rate. Even if the home prices are a little high right now, you will be glad that you took advantage of the low-interest rates in the future.
• Long Term Strategy: Nothing will beat the feeling of having a house paid in full 30-years down the road when you are done with your mortgage. Time is on your side when you are paying down the loan, giving you a valuable asset in the future.

You can’t time the market! It’s the right time to get buy a home when you need to move, you’ve got the down payment, and it makes sense for your family. If you have questions about your options for a mortgage, then you are welcome to call me any time.

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