Have we hit bottom yet?
Filed Under categories: Buying, Finance, News You Can Use, Real Estate News, Selling
posted by Raye on December 10th, 2007
Timing the bottom (or top) of a market is a probably one of the most difficult and frustrating pursuits. If we knew where the bottom was (or the top) wouldn’t everyone be rich in real estate and stocks? These benchmarks are never revealed in the current time, only in retrospect. It takes somewhat of a distant perspective to locate when and why a bottom was hit or when a high was reached. But, there are signs and indicators the truly savvy investor can look for and react accordingly.
Another key factor to keep in mind if you are buying, is how long you intend to hold the property. At this point in the market, as long as you intend to hold for 3 to 5 years, don’t wait. Make an offer. There’s no magic in another six months. Really, there isn’t, not in San Diego. Might as well get in there and enjoy your new home.
Click here to read “Buyers are looking for market bottom” from The San Diego Union Tribune
This entry was posted on Monday, December 10th, 2007 at 10:10 am and is filed under Buying, Finance, News You Can Use, Real Estate News, Selling. You can follow any responses to this entry through the RSS 2.0 feed.
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I definitely agree with you on the issue of how long a buyer plans on holding onto the property.
5-10 years from now the prices in San Diego are going to be a lot higher than today. So, the gamble of saving a few thousands and missing out on the right property by waiting does not seem to add up if you plan on holding onto the property for a while. Good point.
I agree with your blog. I think there will be an influx of Baby Boomers moving into the downtown area. Why not give up your car and be able to walk to all the services? It’s like the stock market. You’re not going to lose money unless you have to sell.
Marsha Shepard Prudential–Salem, Oregon