07/09/2022
SOME INTERESTING NOTES….
FROM
GoBankingRates
Understanding Equity: Why Now Is a Good Time To Buy a House
By Andrew Lisa
June 29, 2022
Yes, prices are rising and will continue to do so — but that will be good news for you once you’re all moved in.
“Most people see the rising prices — and now the rising interest rates coming in — and think it’s a bad time to get into the market,” Iremonger said. “I don’t believe this is a bad time to get into the market at all.”
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Also, as a general rule, home values appreciate over time and inflation ticks up, which means prices are always rising. So waiting, the theory goes, always hurts and never helps.
“Even in hot markets it’s still a great time to buy,” Chmielewski said. “Why, you may ask? Simple. So waiting — even though it is a seller’s market — only results in increased prices, thus further reducing a consumer’s ability to purchase in the future. If you can purchase, do it.”
Even if the market cools later this year or next year, prices aren’t going to drop — they’re just going to rise by less. It will never be cheaper than it is right now.
“Allow me to bust one of the most pervasive myths in real estate,” said Marina Vaamonde, owner and founder of HouseCashin. “Namely, that there is a perfect time to buy or sell your property. There’s no perfect time to buy or sell property. In the long run, real estate trends upwards, so it’s never good to wait in order to beat the market.”
