I know you have heard the saying, "Now is the best time to buy real estate," a million times. I hear it almost every day on the radio and I know it is the best time, but who wants to jump into the the real estate market when you also hear: The price of real estate is still tumbling.
Who knows if we are at the bottom or not? I do know one thing: I just lost a lot of money in the stock market and I am not real anxious to buy any more stock. So, if we are going to continue to lose money in the stock market and in real estate, what do we do? Who has the right answer? Who can we trust?
Here's what I think. It is true that interest rates are great and buying a house is smarter than renting an apartment or living with parents for most of us. But people are pretty fearful right now. I get that, but do you stay frozen in fear or take advantage of some of the incredible deals that are on the market right now?
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It is prudent to be cautious and to understand the local market before buying anything, but even more so when buying a house! I know how it feels when you are investing a lot of money and you are "trusting" the person helping you to invest that money.
So, make sure that you do the research, the investigating and be as knowledgeable about the property as the real estate agent representing you. There is NO excuse for anyone buying real estate not to be knowledgeable.
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The Internet is the best place to research houses on the market, the value, what the current owner owes on the property and more. There is no need to have blind trust in anyone when the information is available to everyone.
Not only do I believe that it is the best time to buy real estate, it is the best time to invest in real estate! Don't think about rental properties as a hobby, it is a business and it can be a very lucrative business.