Is Now The Time to Buy a Home?

The short answer to the question is an astounding YES. But because that may come as a surprise to the reader due to the recent slow downs in the market, I would like to substantiate my reasons in this article We Buy Houses Tampa. Many say it’s a buyer’s market right now, I say it’s an opportunity market.

Seems that all over the news in the United States lately there is nothing but doom and gloom regarding the real estate market. “Nothing’s selling; there are too many homes on the market; all the investors are getting out and selling; people are waiting …” What’s going on? Are no people buying houses anymore? Only selling? Who’s going to buy them? Are the sellers dropping there prices? Investors are not buying anything right now?

Last summer in 2005, many people rushed in and bought homes in a matter of hours that they were on the market. If I was fortunate enough to get a listing in 2005, it was sold at close to or above the asking price long before the ink could dry on my marketing flyers. Some homes even got into bidding wars. Also, my buyers had no time to think about a potential home that I showed them. If they liked it, I encouraged them to move quickly. Consequently, there was not much bargaining involved either. If you wanted to buy a home, and you found one you liked, you made your best offer the first time. Forget about contingencies. Forget about taking a day or two to get pre-qualified. It was a crazy time. Many first-time real estate investors (or speculators) entered the market as well. They thought that this must be the time to make some quick cash in real estate. After all, everyone else is buying.

Something happened, though, around late Fall 2005. “Someone” turned off the switch. The market changed from a fast and furious seller’s market to a more normal, level headed buyer and seller market – or what I refer to as an “opportunity market”. Speculators began selling off their real estate investments they just bought or renovated, homeowners decided this is the time to get the equity out of their homes, and anyone else who was sitting on the fence thinking about selling jumped in – head first.

Real Estate investing is a long term investment. It always was and it always will be – much like the stock market. Take it from the second richest man in the world right behind Bill Gates, Warren Buffett, who made his fortune as an American investor and businessman. His philosophy is nothing we all don’t already know. He concerns himself with “when” to buy. He does not hurry to invest if the value is not discernible. He is conservative when greed and speculation is rampant in the market and he is greedy and aggressive when others are fearing for their capital.

As a seasoned real estate broker and investor myself in the Tampa Bay area, my opinion is that now is the time to buy. I’m not saying that I see a lot of people fearing for their capital or dropping their prices like crazy. But I am seeing a market correction that makes good sense for the real estate market in Tampa Bay. Sellers are starting to realize that they priced their homes too high and buyers are getting excited about the potential deals that are out there. Warren Buffet says that he is buying when everyone else is selling. To him and to me it’s not a buyer’s market, it’s an opportunity market.