While recent economic news has been rather bleak, an interesting thing has been happening in real estate markets across the country. In the midst of all the negative news about down markets, foreclosures, shrinking credit and such are the glimmers of recovery! Yes, leading indicators are already showing that we may have already reached the bottom of the market and started a small but noticeable trend upwards. Right now, prices on homes are at the lowest they have been for years, interest rates are low and loans are available for those with good credit. In other words, we have the perfect conditions right now to make great real estate investments. So for those who believe in buying LOW and selling HIGH, the time to buy is NOW!
Back in July, just three months ago, Jim Cramer, in his "Mad Money Blog" declared, "I am now telling you that between now and the next six months you have to buy a house." I think he has got it right - and there are only three months left to go!
For anyone who is in the market to buy a home, has good credit and the means to make the payments, the world is your oyster! For people looking for a good investment, now is the time to invest in real estate. For people who want to trade up, the time has never been better. This advice is even more sound for markets that have been fairly stable - like New Mexico. Areas like Las Cruces, New Mexico have experienced a general slow down and some drop in prices, but yet are still growing.
Yes, even through all the hard times, some people are going to do very well - they are the ones who take Cramer's advice and buy real estate now, while prices and interest rates are good.