Most Trusted Financial News Sources Say Now Is the Time to BUY!
In despite of San Diego's local economic indicators all pointing up for the fourth straight month in a row, real estate news seems to be lagging behind. If you are a buyer, this is good news for you, here's why.
We heard some news on housing last week regarding pricing returning to a nine year low and local prices seem to be still softening. There was a lot of negativity surrounding these reports. Could be an over correction in the local real estate market? When short sales and foreclosures are not representative of a consistent long term market trend, you must look at the big picture, read between the lines, and see reality in the market. The real estate market is simply driven by supply and demand. Keep in mind it is a a product that is also a fundamental human need. Would you agree that a roof over our heads when they sleep at night is a need? The recent bad news for real estate caused more consumers to be concerned. However, the real question is what this means to you and your family. This could actually be great news if you are buying (either as a move-up buyer or a first-time buyer).
Don’t take my word for it... read for yourself. Here are excerpts from articles published last week by two of the country’s iconic financial publications: The Wall Street Journal and Forbes Magazine.
The Wall Street Journal: Why It’s Time to Buy
“Despite all the gloom, there are growing indications that it is a good time to buy… The long-term benefits of homeownership remain very much intact. For now, at least, you can deduct the mortgage interest on your taxes—a big perk for people in higher tax brackets. You get to paint your walls any color you wish, without having to clear it with a landlord. And assuming you can buy a home for about the same price as you can rent one, buying will give you the ability one day to live rent-free. Come retirement time, a paid-off mortgage means your monthly expenses are significantly reduced, and you have a chunk of equity to play with.”
Forbes Magazine: 9 Reasons to Buy a House Now
“If you’re planning to buy a house right now, the next few months may be the best time to buy… With a convergence of the factors (mentioned in the article) all of which are favorable to the prospective home buyer, there may not be a better time to buy than right now. It’s a buyer’s market, but like everything else in life, the bargain deals won’t last.”
When the Wall Street Journal and Forbes have articles saying now is the time to buy, maybe it’s time to buy your San Diego real estate, contact us directly for assistance 858-461-1402.