Have you ever heard the expression: “If you are hearing about it, it’s too late”? Well, when it comes to markets, that expression can be true.
I have been experiencing a dramatic increase in sales in the real estate market over this time last year. By dramatic I am talking 100% increases in certain areas, and in others, 300%! And it is not just me, the entire company is showing these types of sales numbers. Inventories are outpacing sales for once. There are a number of reasons for the bump in sales. One is the trickle up. First timers rarely purchase Mc Mansions, they are buying in the lower price ranges and maybe stretching into the mid-ranges. There is a trickle up aspect to it. Also, first timers buy a house, the sellers of that house move up a level and create a demand for the next price point, and that continues the cycle on up the ladder. And currently there are amazing deals in the luxury home price points. (Don’t believe me? Contact me at firstname.lastname@example.org and I will show what I mean…Huge deals) The main reason for the bump is certainly because of pricing. Home prices for a long time have been inflated. But, now that the bubble has burst, there has been a massive correction in the marketplace. In some places, massive over-correction. Sellers have taken notice and are pricing their homes where they belong to begin with. Once the proper pricing started, buyers took notice and sales followed.
Whatever the reason, the numbers are up and the numbers don’t lie. The market is coming back. And it is coming back faster than CNN or FOX News might have you believe. Prices are still down, interest rates are still down and inventories remain a bit on the high side. Still a perfect storm for buyers, in a good way! More importantly, a perfect storm for recovery.
Back to the old expression; now that you’ve heard, are you too late? Nope. The real estate market is a slow moving beast. It lumbers, it doesn’t gallop. This bargain season is going to last for awhile. How long? Who knows. Maybe a year, two, three. It may have taken the lumbering giant a while to start rolling, but it is moving along now. Who wants a ride?
Here is a website to get you on your way
Investing in the real estate market has risks and is not for everyone. I am, by no means, suggesting this is for you. I am a trained professional, I do this for a living. If you would like more information regarding real estate investment, just let me know. You can also consult your accountant, attorney, Priest, Pastor, or Rabbi about the risks involved in investing. I am, however, available to answer your real estate related questions.