Nothing in this life lasts forever, not agony or opportunity. There are a lot of people out there today who are in agony due to the current market, but there are also a lot of people out there who have an awesome opportunity as well. No down turn in the economy, including the Great Depression, has lasted forever. So the good news is that at some point, those who suffer today will find relief.
The flip side to that coin is that those who balk on the opportunity of today will miss out on their chance to take advantage of today's market. There are several key factors that make now an excellent opportunity to become a homeowner.
Mortgage rates are at historic lows. They can't stay there forever and at some point they will rise.
Home prices are down. For the most part, across the board homes are now cheaper than they have been in a long time. At some point those prices will rise.
Inventory is up. Due to a decreased number of buyers in the market, the number of homes for sale is up. This gives you plenty to choose from in your search and less competition depending on the home.
Yes, nothing lasts forever. Those who suffer today will get better tomorrow and those have an opportunity today will watch it slip away in time. Obviously if you are not ready to buy a home or you're incapable of doing so, then the opportunity doesn't matter to you. But, if you are capable and you have been thinking about doing so, then you need to seriously consider getting off that fence and seeing what opportunities lie before you.
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JL Boney, III - Columbia, SC Realtor - Russell and Jeffcoat Realtors
I specialize in Columbia, SC real estate and the surrounding areas, including Blythewood, SC, Kershaw County, Fairfield County, and Lexington, SC. If you are in the market to buy or sell a home in Columbia, SC or any of the surrounding areas, I would love the opportunity to speak with to see how I can help. Thanks for reading and feel free to contact me if I can be of service to you.
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JL ---- you are soooooo right -- those folks who can buy and are just waiting certainly can wait too long.
Great Post. People buying short sales have a great opportunity to purchase some nice homes at slightly below an already deflated market price. with all the financing option available like low interest rates and some purchase credits, now is the time.
JL: Buyers need to get out there and buy up these incredible opportunities. And you say, for the sellers, this won't last forever. At least there is comfort in that.
JL you and I are on the same page with this one. I just posted 2 articles on the tax credits. Now is the time in most markets to explore their option and if it makes sense make a move!
Good evening JL,
I am thinking that we all can take a lesson from your post, buyers and sellers as well as listing agents and buyers agents alike.
No doubt about it my friend. You have hit the nail on the head again.
Featured in the group "Whacked!!!
JL...Opportunity is much more fleeting than agony is! It is also a better bet!
JL, this is an opportune time for buyers and sellers because of the increased sales volume due to the home buyers tax credits.
AMEN! Someone recently wrote a post about the "silver lining". I think this is the first year in a long time that people are CHOOSING to see the silver lining! But it's always there; whether we see it or not. I believe this is the year we'll see things start to turn. I'm expecting good things this year. I have high expectations, and I think many other people feel the same way. THAT alone, can be the catalyst for change! =D
I think it's a great time, and for those people who have a steady job, and savings they should really think about it.
Taking something positive out of something negative, haven't I heard "making water into wine?"
Opportunity knocks, but you've got to answer the door!
this posts fits with "Alan's Axiom"... this too, shall pass... whether Agony or Opportunity, one day you'll find yourself on the other side of it.
When people are not sure what to do, they will do nothing.
JL - If you have the means, the opportunity to get a property is as at present. Hopefully people are listening
At times like these it is hard to see that there IS opportunity. Right now smart people are buying...don't wait too long.
Back to back excellent posts!!! Opportunity is indeed here for those who are willing to change with the times. Nothing lasts forever...including the way we must now do business. Getting it is difficult for some...they like the same old, same old. If you can look ahead, if you can change a business model, if you can grasp that the market will move and you might not, you will likely be successful, whether purchasing a home or obtaining new business. Thanks.
JL There is certainly great opportunity in most markets but it won't last forever. Somehow I know some will miss the boat.
This goes right along with what I was reading in SHIFT. You can't "time" the market either way. So when it seems prices have been down for awhile - you can never know when they will turn up -to hit the exact bottom is pure luck.
It's all perspective. You hit it right on the proverbial head. Opportunity is knocking. We have to grasp it while it's here.