Saturday, February 7, 2009

Can an Average Person Buy at the Bottom?

Many people keep waiting for the housing market to bottom. Lending guidelines are getting stricter as prices continue to drop. As prices continue to drop more investors are coming in to the market to snatch up inventory. Well at least rent has seemed to reach its limit but still doesn't change the fact that paying rent is just as bad as a negative amortization loan. You will never have equity from paying rent and that is on guarantee I can make.

If you are thinking about buying speak to a professional that can sit with you and analyze your situation. I am not just talking about finances but look at your short term and long term goals, is your family increasing or are you going to have kids leaving the nest. A good real estate professional will consider everything about you before they advise you whether or not you should buy.

Stay positive and remember our economic cylces always have these dips. Some longer than others but in the long run we always trend up. Keep your chin up and smile cause it is about to get better.

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