December 11th, 2008 2:22 PM by Manuel Couto, CRS, CRB
Thursday, December 11, 2008
It's Amazing what a good Convention brings out in people. The NJ Association on Realtor®s, along with the Pennsyvannia and New York Association of Realtor®s worked hard on bringing in a powerful showcase event for all the Active area associates. And that is exactly what happened. We had full hotels, great parties, old friends, and losing slot machines. It was fun and informative.
Our attendence was down from year before, and there were less familiar booths and faces but do you know what I kept on hearing? "It's a Great time to buy!" Many Realtor®s and bankers were crying that they were either cash poor or that the finaning programs that they wanted to use were no longer available. They all feel that the prices are so low, that interest rates are so low, and that demand is so low that it's a GREAT TIME TO BUY.
What does that mean to you, dear reader. It means that if you have some liquid assets that you wish to invest long term, now is the time to consider real estate again. Your tenants help finance your part of the American Dream. Yes, yes, I know,... "tenants are losing jobs too, and they stop paying... immigration is now going back to the home land, rents are too high, yada yada yada"
Yes, yes and yes.. but even with that happening, interest rates are low, values are at a 10+ year low in areas and your rents can almost cover the mortgage.. It's an investment with some risks but over the long term, it may be the perfect investment for many. Talk to your financial advisor and then call your local Realtor® Don't let this be one of the "Would have, could have should have moments.
Talk you soon.