What I think of today’s real estate market
Everywhere I go people ask me what do I think of today’s real estate market and are we in a major downturn?
My answer is the real estate market today is challenging in many ways but there is so much to offer. Our media seems to like to stress on the negative in the world. So that spins off to our 
population and people begin to panic. We currently see this evidence with panic and the swine flu. People act as if the world were ending.
Please take a breath and look around at all the positive. If you are a buyer today there is so much to offer. Low rates and the supply and demand of housing are in the buyer’s court. This means there are more homes for sale than buyers and this makes prices negotiable. When I purchased my first home my husband and I had a loan of 12% interest and we thought that was great because it was not 18%!! Today it is 5% and under. Also if you are a first time home buyer the government will give you a tax credit of $8,000 if you buy a house before December 1, 2009. The challenge for me as a real estate agent is to teach this information to buyers and question why so many buyers are not moving on these advantages. Why rent and give your money to someone else? Isn’t one of the American Dreams to own your own home?
Another challenging thing is “where are the investors?” I remember in a hot market investors had to out bid one another than they would complain that they had to pay more than the property takes in. Why are they not buying today?
I am totally aware and sympathetic that we are in a tougher economy and many people have lost their jobs, money is tighter, and banks are tougher. But I believe we are going to get through this time. We have in the past. So I believe the buyers who can afford a home or investment today should take advantage of what there is too offer. Because I believe things will turn around and houses prices will go up and the supply will get smaller and than Sellers will be in control. Keep in mind we should support our communities by going to their stores so the communities strive. If we continue buying properties we are helping our economy go forward.
I truly believer in the American Dream and real estate is one of the safest places to invest your money
Posted by:
Piera Dyer
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