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Michael works primarily in the San Fernando, Santa Clarita, and Simi Valleys and in the West Los Angeles and surrounding area of Los Angeles...
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Five reasons why now is a good time to buy or sell a home
Posted at 12:04 PM, Nov. 15, 2006
It's been hard to keep track of real estate over the last few months. The newspapers reported "It's booming!" and then "The bubble has burst!" You had trouble figuring out what was really happening. Now we have some answers.
You might have seen the full-page ads in newspapers lately from the National Association of Realtors saying that this is actually a great time to get into real estate. Sure, they are the industry association, but it's in their interest to tell you the truth. And I agree – this is a good time. Here's why:
1. Great interest rates. Despite all the ups and downs of the various markets, 30-year fixed rate mortgage interest rates are near an all-time low. This means your payments will be as low as possible, making it a good time to buy and lock in favorable rates.
2. Plenty of choices. There is a good selection of houses to choose from now. Housing inventories grew over the spring and summer so buyers have many more choices than they did at this time last year. This means that there are more homes looking for buyers, and sellers are starting to make some adjustments to encourage sales. Buying today gives new owners the opportunity to find their dream house at a favorable price.
3. Good value pricing. Housing prices have slowed their dramatic climb. Some areas have experienced declines while others are still increasing, but the enormous increases of a year ago are no longer the rule. Buyers are finding good values today. And with the trend indicating continued increases through the rest of this year and into 2007, this may be the time of best prices.
4. Positive outlook. The overall outlook for real estate is good. On October 26, 2006, Former Federal Reserve Chair Alan Greenspan said, "Most of the negatives in housing are probably behind us." (Reuters News) And real estate is still one of the best investments you can make to help build long-term wealth. There will always be fluctuations, but overall real estate is one of the best performing investments.
5. Local knowledge and personal service. The Michael Trust Team will help you meet your real estate goals with personal, individualized service. We are a small, established company and we know our territory, so we provide the local market knowledge that will help you take advantage of the opportunities in the current market.
Take advantage of this combination of interest rates, inventory, and pricing to find your dream home today.
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