Residential

Experts: Smart Time to Buy a Home

Donald Trump interview on Newsmax.com, published 1/31/2011

Donald Trump had very positive things to say about real estate’s buyers market.

It’s my belief that now is a great time to buy a home. It has nothing to do with the fact that I am a Realtor®. It has everything to do with the today’s financial status.

Experts are in agreement. Donald Trump (who’s considering a Presidential run, by the way) said:

“I can’t guarantee it, but I’m pretty sure this is right now a great time to go out and buy a house. And if you do, in 10 years you’re going to look back and say, ‘You know, I‘m glad I listened to that interview with Donald Trump,’ ” [link]

Louisville Homes Blog quoted real estate investor, John Paulson, back in September saying:

“If you don’t own a home, buy one. If you own one home, buy another one. And if you own two homes, buy a third and lend your relatives the money to buy one.” [link]

Real Estate Market Forces

So if you don’t want to make a decision based on an expert’s opinions, what if I told you the market conditions are also telling buyers that it’s a smart time to buy?

When I wrote, Honestly, is it a good time to buy Louisville real estate? interest rates were at historical lows, inventory was close to record highs and home prices had dropped 2.5% in two years. Since then, interest rates have been inching up, inventory has remained roughly the same and home prices have dropped just a bit. All three indicators still very favorable for buyers.

KCM Blog, one of my favorite real estate blogs in the country, wrote a piece yesterday that covers three other important market conditions: 1) economy, 2) unemployment, and 3) real estate’s performance as an investment.

Economic Indicators Show Real Estate Is a Good Investment

I won’t copy their charts and quotes to paste them here but you should read their short post. To sum up:

  1. Economy is improving
  2. Unemployment, which had been increasing, has leveled off
  3. As an investment, real estate tops Dow, S&P and Nasdaq over the past 10 years

So if you’re waiting for something to change before you buy your next home, what would that be?

About the author

Tre Pryor, Editor-in-Chief

Tre Pryor is the recognized expert Louisville Realtor who can:
  • List and sell your current home in Louisville,
  • Help you purchase your next Louisville home, or
  • Guide you in your relocation to Louisville, Kentucky
» Contact Tre now!

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