It's been hard to keep track of real estate over the last few months, hasn't it? The news media told us "It's booming!" and then "The bubble has burst!" You had trouble figuring out what was really happening. But now we have some answers that make sense.
You probably have seen the full-page ads from the National Association of Realtors lately saying that this is actually a great time to get into real estate. Sure, they are the industry association, but it's in their interest to tell the truth. And I agree – this is a good time. Here's why:
1. Great interest rates. 30-year fixed rate mortgage interest rates are near an all-time low. This means your payments will be as low as possible, making it a good time to buy and lock in favorable rates.
2. Plenty of choices. There is a good selection to choose from now. Housing inventories grew over the spring and summer so buyers have many more choices than they did last year. This means that there are more homes looking for buyers, and sellers are starting to make some adjustments to encourage sales. Buying today gives new owners the opportunity to find their dream house at a favorable price.
3. Good value pricing. Housing prices have slowed their dramatic climb. In our area of Southern California prices are still strong, but the enormous increases of a year ago are no longer the rule. Buyers are finding good values today. And with the trend indicating continued increases through the rest of this year and into 2007, this just might be the best price period.
4. Positive outlook. The overall outlook for real estate is good. On October 26, 2006, Former Federal Reserve Chair Alan Greenspan said, "Most of the negatives in housing are probably behind us." (Reuters News) And real estate is still one of the best investments for individuals to build long-term wealth.
5. Local knowledge and personal service. The Michael Trust Team stands for personal, individualized service. We are a small, established company and we know our territory, so we give you the local market knowledge to help you take advantage of the opportunities in the current market.
Now is the time - take advantage of this combination of interest rates, inventory, and pricing to find your dream home today.
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