The stock market fell 300 points yesterday which means mortgage interest rates will follow. It is now the perfect time to buy a new home or investment property. Many people feel they need to wait on a home purchase because of the war, fuel cost and the upcoming election. Actually, that is a huge mistake. There has never been a better time in Raleigh real estate history to buy than right now. Think about this…when would you rather buy a new home or investment property? When there are multiple buyers bidding the price up? Or now, when there is less competition in the market and more products available in Raleigh, NC than ever before?
Sellers fear tomorrow will be worse than today so they are negotiating 2% to 5% off of last years prices. This means you are saving 8% to 12% on every home out there. Call your lender and lock in a low rate and buy now is my advice. As soon as consumer confidence returns in our country prices will go up. There are so many people who want to buy and are just waiting for a good sign. All it will take to change our buyers market to a sellers market is a couple of days where the media changes its tune and speaks positively about our economy and the housing market and it will be a buying frenzy. Buy now and save. The sky is not falling you have a great opportunity right now don’t lose it. How many times have you said I wish I had bought land 25 years ago in Wake Forest? How about North Raleigh and Cary when it was farm country and cheap? Don’t you wish you had someone encouraging you to buy back then? Well then is now. Don’t look back on 2008 and have regret because you waited.
Hope you stay dry this weekend,