Today’s Buyers Are Not Crazy

February 13th, 2009 | categories: Buying Real Estate in Coconut Grove

I was reading an article by David Bach author of Start Late, Finish Rich on buying a home in today’s market.  He had some simple points about why home-ownership is still a good long-term decision.  Crazy People

According to David, some important things for buyers to keep in mind are:

  1. Home-ownership is a solid long-term investment.  In fact, it is the best long term investment you can make. 
  2. Historically, home prices rise.  Even though nationally home prices fell 6% last year, the average historical annual appreciation rate for the typical home is 4.3%.  If you plan to stay in your home for a couple of years, you will see an increase in value.
  3. What the market is doing nationally is irrelevant to you.  The media refers to a “nationwide housing slump”, but as David puts so clearly….real estate isn’t national – its local!
  4. Don’t time the market.  Its not about timing the market, its about time spent IN the market.  If you  are making a long term purchase you are better off getting in now.

Written by Riley Smith

This entry was posted on Friday, February 13th, 2009 at 2:25 pm and is filed under Buying Real Estate in Coconut Grove. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

  1. Mortgage Mods said at April 11th, 2009 at 12:50 am

    Finally someone who can write a good blog ! I loved your post and will be telling others about it. Subscribing to your RSS feed now. Thanks

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