Is the real estate market going to crash?!?
Is now a good time to still buy a house !?!?
Those are frequent questions we get asked.
When it comes to buying a house, you need the proper guidance and education and to find out the correct information and what suits you and your lifestyle best.
Some have regretted not buying sooner, but you can still buy now, wait, increase your equity and build your wealth
Here on the Eastern Shore, we still have a huge limitation as far as the amount of houses that are available for sale, and we still have a lot of people that are buying.
Well, we don’t have a crystal ball, but a couple things we will tell you:
Do we think the real estate market will be the way it was the last couple years? Probably not.
But do we think we’re going to go into a 2008 crash? We definitely don’t.
You, as an average consumer, trying to time the market is almost impossible, because as a master trained professional, it’s hard for me to even time the market.
When it comes to buying a house, what you have to make a decision is does it fit for you and your lifestyle
Over time, real estate always goes up and you’re going to have to live somewhere, right?
So would you rather create a savings account where you’re paying every month and paying down the principal of your house or would you rather pay 100% interest and make another landlord rich, or help build your own wealth?
Now, everybody has different circumstances where from a lifestyle perspective, maybe it doesn’t make sense for you to buy a house.
However, if you plan to live there over the long term, rates have increasingly started to go up, but they’re still low where you can get a good deal on your interest rate.
Do we think the real estate market is going to crash? We don’t think it’s going to crash like it did in 2008.
Will it pull back? Absolutely.
Is it going to have huge swings in prices? We definitely don’t think so.
There’s many people who waited years to buy a house and completely missed out on their window. They literally could have bought a house and sold it and made a ton of money
Right now, if you’re waiting for the real estate market to crash, rates could go up tremendously and even though prices go down, your payment is still going to be higher and it may price you out from being able to afford it.
So understand, trying to time the market is almost impossible
What you need to do is tailor a program specific to you, that works for you and fits your lifestyle.
Now is still a good time to buy a house, education and guidance is key
Don’t wait to buy a house. Buy now, wait, increase your equity and build your wealth!!
Reach out to us, we’d be glad to help you and evaluate your situation and put you in the best position possible for whatever fits for you and your family
The Maryland and Delaware Group of Long & Foster Real Estate D: 443-783-3928 O: 443-339-9200