Interest rates are moving higher. The days of the lowest mortgage rates in history are no longer. It’s an opportunity lost to refinance or get the lowest possible mortgage.
Real estate prices in California are on the move upward. The days of cheap housing prices are gone. The time to buy property at the lowest prices in a decade is gone.
That is one way of looking at it. Two questions beg to be asked. Was that really the bottom? Is it a bad strategy to buy after the bottom has formed?
If that was the bottom of low interest rates and housing prices, it is a powerful insight to know the down side risk.
Another key about opportunities is that personal timing is more important than general timing. When it works out best for the individual is often the only time a person can take advantage of an opportunity.
Is now the right time for you?
I received an interesting comment from a very successful person about this opening to the most recent newsletter.
“in my opinion a house is the best investment one can make for their family! Not only do you get the shelter and joy of home ownership BUT let’s say you put 10% down, you get appreciation not on the 10% down payment but on the entire cost of the house! As in, you buy a $100,000 house so you put $10,000 down the house appreciates say 10% your return is 100 % on your investment. Something to think about! Norm”
Edaddywarbucks Inc. Norman F. Alvis, President; www.edaddywarbucks.com
Dan Parisi is CEO of Coffee Real Estate
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Real Estate agent & Mortgage expert
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