My outlook as a licensed realtor is that it’s definitely a great time to buy and I encourage homeownership 100%. My approach with buyers is to give them real talk. Which is not, “Let me just give you what sounds good,” but “let me give you some realism”; and if you see my show “Property Virgins” on HGTV, that’s what I do.
That dose of realism is that running out and buying anything you see because you hear the market is recovering and paying whatever price is presented to you is not a good idea. That’s one of the main reasons we got into the real estate debacle in the first place.
However, we DO have to know when to get off the fence and jump in the market while the getting is good.
Never before in my lifetime have I seen a real estate climate quite like this one. Interest rates are still historically low and home prices are still relatively low.
Usually when interest rates are low, home prices are high, or vice versa. But this climate won’t last forever.
The National Association of Realtors reports that home sales jumped by 7% nationally. Additionally, the mortgage rates are at 4.25% now versus the 3.31% it was in May. There is also a shortage of inventory (homes for sale).
All of these signs tell us that the market is recovering and the once struggling economy is starting to forge ahead. So let me put all of this into layman’s terms— BUY BUY BUY!
Check me out tonight hosting new episodes of “Property Virgins” on HGTV at 8 & 8:30.
But you can also see me on CNBC’s “Squawk Box” below…