Is it a Good Time to Buy?

I do not usually play favorites, but I must say Todd and Shawn are my favorite investors. That is because Todd is my brother which pretty much makes Shawn my brother too! We just closed escrow on an investment property they purchased two years ago. Because the market climbed so high since they purchased it and it wasn't the easiest rental, we decided it was time to sell it this year. I hope some of you who are reading this will be inspired. I have many clients who ask if it is a good time to buy right now. Knowing prices are incredibly high, it is hard to say that this is the absolute best time to buy. However, Todd and Shawn were not sure if it was the perfect time to buy two years ago when they purchased this home. Prices were considered very high at that time as well.

Here we are selling it and they are profiting over $100k. If you are renting, and you have the means to purchase, my advice is to INVEST! If you wait for the market to go down, it could be years. That is years that you could have been paying down your loan and gaining equity. Also, interest rates are no longer said to be going up - they actually are increasing every day. Now, not only have you missed out on years of paying down your loan, but you are going to have a higher rate when you do purchase. You would have been better off purchasing when you were ready. The best advice I can give as a Realtor who watches the market closely every day is that if you are prepared to purchase a home or an investment, just do it. And with that, another door has closed to open many more doors of opportunity for my favorite investors!