Articles
Why this is a Great time to buy Real Estate
by Bill Jardine Mar 07, 2006
B y now you have heard that the real estate insanity has chilled out and we are returning to normal market conditions. In some parts of the country real estate prices are in decline, and even here in Paradise we are seeing price reductions through out the market. This is a temporary buying opportunity of great attraction! Let us negotiate a great buy for you while we can!
Baby Boomers:
There are approximately 77 million Baby Boomers, who will retire over the next decade. If just one percent of these folks decide to retire to Hawaii, we will have to create over 770,000 new homes!
Let that sink in for a minute. Can Hawaii satisfy that kind of demand? I think it is very doubtful, and you probably do too. Instead, when the Boomers start migrating to sunnier climes we are likely to see the price of everything go up, up and away.
You are well advised to buy something … anything … now and take advantage of that next huge run-up in demand and prices. Nobody has a crystal ball to know exactly when the demand cycle will switch again, but experts are predicting that the next upswing will be very, very big, since most of the Baby Boomers will be making retirement home decisions in a couple of years.
Current conditions:
Recently, demand has slackened, and we are now seeing lots of price reductions as folks figure out that they aren’t going to get the sun, moon and stars for their property. This is good for buyers.
While prices are falling, interest rates remain at historical lows and should remain relatively low for rest of the year, now that the Federal Reserve thinks inflation is well under hand. Accordingly, with prices falling and financing costs still low. This is the time for the smart buyer to make a purchase.
We are encourage vigorous negotiating on price and terms and believe that our clients will succeed in getting properties now that will be out of reach with the next increase in demand.
You don’t have much time, so you need to shake a leg and git goin’
Bill Jardine
(808) 885-6061
