Greetings friends,
Despite the buzz around the (zoom) water cooler, we are not in a distressed Real Estate Market, we are in a balanced market.
Now more than ever buyers can construct a contract according to their terms - something buyers have been asking for years.
Here are a few other reasons why now is a great time to buy:
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Hedge against inflation: While there are years where inflation outpaces real estate appreciation, if you look at trends over a longer time frame, the return you earn on real estate tends to be higher
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Equity
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Tax Benefits: The two most significant are mortgage interest deduction and capital gains exemption
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Long-term appreciation: In addition to building equity, you also gain price appreciation
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You date the rate but marry the price: if there is a recession the Fed will lower the rates and you can refinance to a 30-year loan.
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Once the Fed signals an end to rate increases there will be more buyers to compete against
If you already own a home now is a great time to use the equity you’ve built and purchase an investment property, second home, or vacation home. The time to buy is when no one else is.
Historically speaking, people who bought in economic downturns like 2009-2010; 2001; and 1994-1996 purchased at lower prices and had higher appreciation than those 3 years after that period.
Wishing you and your loved ones, great health, peace, and prosperity.
