My wife and I went out to dinner the other night with a few friends, which is unusual, not because we don't generally have friends who want to join us for dinner, but because we are always busy doing something with an 18 year old, and a 4 and a half year old (yes, we like to space them out a bit...) we don't always find the time to socialize the way we used to. So now, when we do get to go out a bit, we are careful to make the most of it. We enjoy trying new restaurants in particular. Wait, I am telling you all this for a reason that relates to real estate, so hang in there. Sometimes we hit a home run, and other times we just don't get it right. The worst feeling in the world is feeling like you just got ripped off!! I HATE that! I would rather pay 200.00 for a GREAT meal, than pay 30.00, and feel like I over paid. This is what brings me to PRICE vs. VALUE.
Right now, without question is the best time I have seen in 23 years in which to buy real estate. Many of you get it, and are out doing just that. We have seen a HUGE increase in activity and sales. Interest rates AND prices are down...that NEVER happens, where both are low. If you are waiting, you can be sure that prices will start to increase as demand dictates that, and demand has increased tremendously.
My advise is to not shop by price, but rather by value. I have a few buyers right now looking to get into the market for the first time...with the 8000.00 tax credit, and all of the other favorable conditions, they are smart to be aggressively out there looking to buy. A mistake they sometimes make is that when they see a new listing appear for 269,900 or so, they want to see it right away because there are few homes on the market in that price range. It seems like a good price, but...is it a good value? Not always. The price seems affordable, but could still be too much for what it is. Perhaps the house at 299,900, although a higher price, is really the better value. The price differential is about 10%, but, for the difference in money, the location may be 25% better, it might be 20% larger, and may be in 30% better condition. Like buying the 200.00 meal that leaves you happy, rather than overpaying for an inexpensive meal that had almost no value.
As I mentioned, now is a great time to buy. If you have been on the fence about your timing...you have waited long enough. In Real Estate, once things turn around, it happens without much warning, and you could be left on the side lines, wishing you made the move.
There are some nice buys out there, so give me a call and I will share them with you. Together, we will find a wonderful VALUE just for you.
Call me anytime at 781-942-4932, or write with your questions and comments to firstname.lastname@example.org. You may also visit my website at http://www.ricknazzaro.com/