I’ve written a few times lately and have also discussed a lot about whether NOW is a good time to buy real estate.
It seems less time is put into whether or not now is a good time to buy a new car or big screen tv. Do those items ever go up in value? Unless it’s made of gold, I don’t think so.
If you’re thinking of buying a home either as an investor, a first-time homebuyer, or moving up into a larger home, you can look into it now or wait for when home prices or interest rates increase, or both.
According to CNNMoney, Les Christie, there are 242 of the 299 largest U.S. housing markets that are selling for prices even bankers think are less than fair market value.
Of this Top 10 list of undervalued housing markets, two of them are right here in our beautiful central valley. What does that mean to you? What does that mean FOR you?
To me, it means that now IS a good time to buy.
Here is that Top 10 list:
- Las Vegas, -41.4 percent
- Vero Beach, Fla., -39.8 percent
- Merced, Calif., -37.7 percent
- Cape Coral, Fla., -36.8 percent
- Houma, La., -34.6 percent
- Port St. Lucie, Fla., -33.3 percent
- Warren, Mich., -32.3 percent
- Vallejo, Calif., -31.9 percent
- Modesto, Calif. -31.8 percent
- Stockton, Calif., -31.8 percent
Ultimately you have to be the judge when it’s a good time buy your 1st or your next home, but with the current tax credit of $8,000 for 1st-time buyer as well as the incentive now for existing homeowners to purchase real estate, I’m thinking now instead of later is good, if not better, timing.
At Realty World-Davis Homes & Properties, we are able to everyone with their real estate needs, but because of the low home prices we seem to be specializing in first-time buyers and investors.
You’ve heard the slogan…If you’ve got questions, we’ve got answers.
Make it a great day!