Worth Waiting?

The overall Case Shiller composite of the metro markets shows another trend line “up”. I do look for trend lines and not so much what the current prices are ---- after all it remains a buyer’s market in most states but not in every local market!

This latest graph shows a volatile trend line bouncing along the bottom. Prices are reacting to the vicious cycle of job loss – foreclosures – price reductions and start over again. The interesting aspect of the graph is that the trend line is contained within a relatively small range for a period of time.

Of course, the pricing trend lines will give you an idea of how the national market is reacting but you need to focus on:


1. Local Market

2. Monthly Cost

Housing history has shown us that housing appreciates over time. If you want to establish roots in a community and buy a home for your family, why would you wait?

The key is the monthly cost!!

The following illustration shows the price of the home increasing but the monthly COST decreasing --- simply because of the interest rates.

There is no better builder of equity over the long term than real estate. If you can minimize your cost below your monthly rent, why would you not consider buying a home for long term equity building rather than give your money to a landlord?