Roseville, Calif.- Okay, alright already, the real estate market is not what it was a year ago and it may be hard to argue that homes in California are not overpriced and overvalued.
As you can imagine, I read a lot of articles about real estate because it is my profession, I find it interesting and I like to write about it. On any given morning there are articles about the imploding market, busting bubbles, consumer and builder confidence in the tank and rising interest rates. I don’t know if it is how I read them, but many of the authors seem to take delight in spreading doom and gloom.
Most of us don”t make our living by buying and selling real estate like stock or commodities. As a recent client of mine said, ‘I just want a place to come home to after work.’ Joe and Erin have mid-west conservative values and are first time home buyers. They started thinking about buying a home almost two years ago. Initially they entered a red hot market and lost three homes in multiple offer situations. That sent them to the sidelines for a long time but they are back now.
Why should they buy now when everything is so gloomy? Maybe I should tell them to wait another year because the homes they are looking at today will still be on the market and priced at 80% of what they are going for today. Interest rates will be lower? Houses will be cleaner because the soapy bubble burst and washed them? Maybe ‘consumer confidence’ will be up, that should make them feel better, right?
Bottom line, like lots of other people, they want a house of their own. They are tired of living in a cramped apartment and listening to neighbors fight and flush. They want a place of their own to come home to after work. Best of all they want to find a house to raise a family in and call home for a long time. I am proud and feel good about helping them find the perfect place. I don’t feel like I am leading them to the dark side or fleecing them of their hard earned savings.
I predict in ten years they will be very happy they purchased their home in 2006 because they will have enjoyed it for all those years and it will still feel like home, even more so. If you desire a house to make it your home for a long time, now is always a good time to buy. If you have a house to sell don’t be fooled, there are buyers out there who are moving to this area because of jobs or folks like Joe and Erin. Yes, the real estate market is different this year like it may be different in 2016, but there will still be buyers and sellers and now will still be a good time for the right reasons.