Wednesday, November 2, 2011
Have you looked lately?
I heard it said that wealth is made in times like these. Why? I believe it is because many people are able to sense change and capitalize on that change! Okay, so what's going on right now? Where is the change?
Have you looked lately at the factors involved when you purchase ABQ homes for sale. No? Well check this out:
1. Albuquerque Home prices have continued to drop until just recently. Now it seems to be tapering off. Prices up to $300,000 seem to be stabilizing a bit. The new norm seems to have arrived!
2. Interest rates have continued to drop as well and today rates are between 3.75% and 3.9%! What? These rates haven't been heard of for 40+ years!
When you combine these two factors properly it means that Albuquerque homes are renting for more than the payments!!!
I've been actively involved with homes sales for 39 years and I have noticed one thing; there is a peak with every high trend, and there is a low for every declining market. I don't know if this market can go any lower in value and interest rates. Either one may go up at any moment.
Should you buy now? Absolutely buy now, don't wait for the pricing to go lower because the rates may go up!
by Tim Fish