Is Now A Good Or Bad Time To Buy Or Sell (2008)?

There is certainly much speculation as to the accurate forecast for 2008. There are economic indicators that support both a positive and a 'dhicken little' philosophy. But what should you be looking for to determine if the market is right for you to buy or sell?

* MLS inventory levels are stable based on the total number of rooftops although the bank owned properties and homeowners needing to sell their pre-foreclosure properties are keeping overall inventory levels saturated.

* Does this mean dont sell or dont buy? Absolutely not. when inventory levels are high it indicates a buyers market. This positions buyers who may not be good negotiators to have a price advantage over the seller due to the market alone. Buy Low! Isn't that the plan with all 'good' investments?

* Low monthly payments! With the current interest rates at 2004 levels (reported 1/25/2008) including Gov't mortgage programs at 100% financing and stated income programs still available finance is rather attractive. This makes the property more affordable as an owner occupant and creates a potential positive cash flow scenario for the investor! I did say POSITIVE.

* A home is worth what a home is worth... just because pre-foreclosure/short sale properties are on the market for below market prices does not mean your homes value has deteriorated. It is still possible to sell attractive well-cared for properties in the right locations for non-depressed fair market values. Yes there is competition but not in every neighborhood. You still have to pay to have all the caveats.

* Is now the time? Buy the time the general public figures out there is a new market brewing the actual investment opportunities have already passed. Use this as you industry insiders Tip!
If you would like more information on homes or investment properties we have valleywide offices to serve you. Give me a call or send me an email. You'll wish you did.

Todd C. Menard, GRI, MRE
President and Designated Broker
tmenard@cox.net