When hopes of a housing recovery took another turn South this summer, speculation about homes sales coming to a screeching halt and a “double dip” recession started to run rampant.
Case in point: at the end of August, when the S&P/Case-Shiller composite index of 20 metropolitan areas reported a 0.1% slip in home prices from the previous month, and a 4.5% dip from a year ago, a major news outlet’s reference to the housing sector as “moribund” may have been greatly exaggerated.
Constant references to a “weak” housing market tend to freeze buyers in their tracks. However, most buyers don’t always know the facts to gain proper perspective.
Rents on the rise, low home prices, historically low mortgage interest rates, motivated sellers and record-high inventory to choose from—could this possibly be a better time to invest in real estate?
I read this in the September 2011 Distressed Property Report, a CPDE Newsletter that is emailed to me monthly as part of being a Designated Certified Distressed Property Expert. And I will say that I agree with this article. Perspective is necessary when slogging through the heaps of news that we get dumped on us each day. Know your market, know what is directly affecting your market and leave out the stuff that doesn’t affect you. Markets are local, have a local expert help you gain that perspective. You might be very happy with what you find, once you see it from the right point of view.