Would it be crazy to buy a house now?
This is a question that people are gonna ask you. I've heard this question come up a few times just in my social circles.
I'm gonna tell you there's two key reasons why it's a great time to buy a house. Not just a good time, but a great time to buy a house.
1. You have more buying power than you've ever had in the last 10 years.
Think about the last year. Just last year, if you were gonna go buy a house, you're competing with 10 other buyers, you're always gonna be in a multiple opera situation. You're gonna have to come in with non-refundable more money, go over full price, have an appraisal gap language, remove inspections before you've even done an inspection. You were at such a disadvantage as a buyer.
Let's contrast that with today:
When you come in as a buyer, first of all, sellers are reducing their prices en masse. Plus, they're gonna reduce their price again, when you make an...
If you know people in your sphere of influence that own investment property, I've got some good news. Also, if you own an investment property, I've got good news. And if you're trying to sell investment property, I've got good news:
The investment property side of our business is going through a real resurgence right now. We knew during COVID they got kinda hit. We know the eviction moratoriums made it really tough for them. But now we're starting to see people come back out of that.
So here's a few good numbers in that arena that come from us from the NAR economist blog:
Two of them are dealing with absorption rates. Absorption rates, meaning how many units are being absorbed by the market.
In Q2 and Q3 of this year, 700,000 units were absorbed by this market. It's a lot of units, but completely instantly absorbed by the market.
Vacancy rates have fallen in 2011-ish from 6.9 back then all the way down to 4.6 now. That's a nationwide...
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