Home Buyers And Sellers Now Is The Time. The spring real estate market is upon us. This is the time of the year when both home buyers and sellers hit the street running to get their personal real estate needs answered. Are you one of those people thinking about buying or selling a home? Well if you are, NOW is the time for both home buyers and sellers.
Today’s real estate market for Home Sellers is heating up and we are seeing homes having less days on the market, higher LP:SP ratios, higher selling prices, and higher average per square foot prices. If you are a home seller there are higher numbers of home buyers out looking to buy a home. What is important all these home buyers come with the ability to buy your home…TODAY! There has been a pent-up demand for homes by buyers for a long time and they are now entering the market to buy their new home in droves.
We see usually in most markets change with everyone starts jumping on the band wagon at the same time. Interesting there were many opportunities for home buyers to get terrific deals on their home purchase just a few months ago, but most home buyers decided to wait and see. Realtors kept touting it was time to buy and no one but a very few stepped forward to take advantage of the opportunity. Now it seems home buyers have decided is the time to purchase their new home. It’s not too late either.
It’s interesting how recently home buyers decided to purchase their homes at the same time, which causes what seems to be a difficult market for them to compete in. Ironically, that’s the nature of most markets in general whether you are buying a home, stocks, bonds, flavor of the day cars, or any consumer item. Supply and Demand is one of the most important factors in where markets go.
If you are a Home Buyers, the market may be competitive; however, home buyers today will see interest rates like no other home owner has seen before. I saw a conforming loan on Friday listed at 2.875%!!! I’m now approved for 3.375% rate on a jumbo loan on my personal resident. The money is cheap out there folks. Low interest rates are good for the smart home buyer.
Historically real estate has been a great hedge against inflation. I am of the opinion the second shoes has not dropped and inflation is about to raise its ugly head in the near future. Just look at the “sequestration” that may take effect on Friday, March 1, 2012. The changes though I think is long overdue is going to have a huge effect on most Americans if it happens.
The cuts in 2013 are 8.4% in San Mateo County. This may seem like not much, however, this sequestration stated by the San Mateo County Central Labor Council, which is in Foster City, CA, issued a press release emphasizing that California will lose funding by 93% of it for education, public safety, health care, and job training.
Other States across the United States will have the same impact on their economy. I don’t see a solution to this loss of funding except for eventual answer to it as inflation. Again, real estate has historically been a hedge against inflation. If you are thinking about protecting your assets then putting them in real estate is, IMHO, is a good idea.
So as stated in the beginning of this post, NOW is the time to either buy or sell your home. It’s a win-win environment for everyone who is thinking about protecting their assets in 2013. Good luck everyone.
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