I was browsing through some old posts when I came across this one from April 2006, in which I highlighted an email I received from a local real estate salesman:
Regardless of what happens with the bubble the longer you wait to purchase a home the harder it will become. The only time I would agree that it would be appropriate to wait would be if you feel the bubble will burst and prices/values will fall.
Nothing in anyones crystal ball says anything about values falling in the Northwest, the primary reason being supply and demand. Here in (Mr. F’s) County our market is cooling. Even at that if we only have a 10% appreciation this year it is still great news for homeowners. So my recomendation would be to buy now not later. In not buying now you are loosing appreciation and tax writeoffs. As I tell most new buyers, just get on the up escalator! Once there at least what you currently own is appreciating at the same value as most of the homes around you so it will be easier when you are ready to sell and buy the next one.
So many classics in just one email…
- “the longer you wait to purchase a home the harder it will become”
- “Nothing in anyones crystal ball says anything about values falling in the Northwest”
- “if we only have a 10% appreciation”
- “buy now not later”
- “just get on the up escalator!”
I’ll have to send Mr. F an email and see how he’s doing these days.