Saturday, March 19, 2011

Once in a Lifetime Opportunity for Buyers?

Business Insider's Money Game interviewed real estate expert Barbara Corcoran earlier this week. This is what she said about buying in this market:

“We have a regular real estate miracle happening right now. We not only have record low prices, but we also have cheap money.”

A second real estate icon, Donald Trump, just a few weeks ago said:

"This is a great time to go out and buy a house. And if you do, in 10 years you're going to look back and say, 'You know, I'm glad I listened to Donald Trump'."

Melissa and Rebekah Stephens of The Stephens and Stephens Group at Better Homes and Gardens Real Estate Metro Brokers has quoted, screamed, pleaded, and begged people to listen to them: NOW IS THE TIME TO BUY A HOUSE! We've had over a dozen clients purchase homes this year and their mortgages are cheaper than they were paying in rent! We've even had some clients sell their current home, even if they're taking a loss on it, just so they can move on and buy another one at an incredible price.  It makes up the loss when they can go purchase their "dream home" at a price that probably won't be seen again in their lifetime. To make it sweeter, interest rates are also at all time lows. There really is no better time to buy real estate.
Maybe it's time to start listening to the people who have made fortunes buying and selling real estate. They may know best!!

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