“I’m waiting for the bottom before I buy a house......”
I’d like to be the Real Estate Agent or investor who can predict the “bottom” of any market.
Reality is that you wake up one day and instead of the media saying “the housing market continues to drop”, they’re saying “the housing market was up x% last month”, and you’ve missed the bottom completely. This is because that exact point in time, or line in the sand, does not exist.
Even though everyone would ideally like to buy at the bottom of any market, reality is that every person has a different reason to buy or sell property and it’s rarely because the market is at the bottom. Real Estate sales are just as likely to be linked to emotional, family, job or other financial reasons that have nothing to do with a “bottom” or “top” market.
Real Estate, over time, is always an excellent investment. Buying a home is a huge financial commitment, but just as importantly, it’s where you live with your family, and having a home that fits your needs and that you feel a connection to can be more important than buying a property for the lowest possible price.
I like inviting people into my home, not just a house that I bought at the bottom of the real estate market.
Hi, great point about the bottom of the market. I tell my clients that every home reaches the bottom of the market at different times. Some homes might be ther already. I agree that once you think we're at the bottom of the market, chances are we're going up already.
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Thanks for your response Pat. There are so many buyers out there sitting on the fence because of uncertainty in the market. The difficulty we face is getting listers out of the 2005 mindset, and getting buyers to realize that Real Estate is a long term investment, and any home you buy today will most certainly be worth significantly more in 5 years no matter what you pay for it today.
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Most of the time, if the person selling the property needs urgent money or is the situation you may get the bottom price. You try your luck, best wishes
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