All right, you have heard this here before. I don’t want to sound like a broken record, but THIS IS A GREAT TIME TO BUY REAL ESTATE. So if you are tired of hearing this message and think it’s just a self-serving diatribe, just stop reading now.
The banking and financial crisis that we are presently experiencing has brought about what might very well be the buying opportunity of your life time. If you are a student of history, you know that all of these periods of high and low markets – be they stock, commodity or real estate – are cyclical. It’s true that we are living through a period of great turmoil in all of our markets. BUT ultimately all markets will find equilibrium, and stability will return – to the stock market, the commodities market, and to our real estate market.
As a result of many factors which are now known to all of us, there presently exists a huge inventory of bank owned and/or short sale properties for sale. This inventory will not be available forever and, in fact, is already shrinking. In some communities the selling prices of homes are presently down to 50% of what they were just a few years ago. So what’s the message here? (And yes, you have heard it before. . . .)
- Once this inventory is sold off and the banking mess is straightened out, the unusual numbers of foreclosures
will drop. Consequently, these bargain prices will be gone.
- For a qualified investor, there are plenty of financing options now available, if you want one of these great investments.
So, if you are interested in buying in the Palm Springs area, there is a finite period of time in which to act for one of the great buys now on the market. It might take a month, six months or a year, but these opportunities will not last forever. The time to act is now!