The Charlottesville Real Estate Winds of Change are Blowing
I am finally starting to hear and read some mass media reports which suggest that rarely has there been a better time to be beating a path to
the front door of a great real estate bargain. Take for example, Dan Kadlec’s column in the February 25, 2008 issue of Time entitled, “Ignore the Headlines! Except this one. Sure, housing’s in a hole. But there’s a potent case for buying now…” If you don’t believe me (see my December 29, 2007 post entitled, “Who Would be Dumb Enough to Buy a Charlottesville Home Now?”), read Dan’s article – it is succinct and draws on the wisdom of some of this nation’s most revered financial wizards.
Fear Sells!
The trick to picking up a great Charlottesville real estate deal and to taking Dan Kadlec’s advice is ignoring all the negative mass media headlines. Fear sells. Chronic negative real estate headlines have helped fuel a self-fulfilling prophecy of repressed property values. It’s been hard to think about buying Charlottesville real estate while the headwinds in the mass media have been so strong, but going against the tide and tuning out all the noise will pay dividends if you have the courage to do it. For all you sailors out there, you know it takes a lot more skill and tenacity to reach the finish line when working your way up wind! If you are interested in a big financial gain and have a time horizon of 3+ years, now’s the time to take deep breath and unfurl all your sails!
How about you, are you ready to head up wind and seize opportunity while it is knocking? I look forward to your comments.
Until my next post,
Brian
P.S. Stay tuned for my next post titled “Tomorrow’s Deal will be Inferior and will Cost you More!“
March 18th, 2008 at 11:56 am
There is so much discussion about the lending crisis and how it has affected the real estate industry. Fact is we have a buyers market and huge and unprecidented. We have govement intervention and interest rates and stimulus packages have been set up to assist with a purchase and if that isn’t enough they are send us each $600.
Still people are frozen. They are choosing to pay credit debt and brace for a even tougher time and despite all efforts of the goverment many are not jumping in. It will take time to move these house maybe 5 years or more.
That being said if you qualify and have a deposit is a great time to buy and lots of choices.