| As has been reported in the media lately, the | | | | location in the country is different. While |
| real estate market has cooled off | | | | formerly hot markets like San Diego are |
| dramatically. This raises the question of | | | | definitely beginning to stagnate, other local |
| whether you should buy now or wait for a bit | | | | markets like Jacksonville are actually |
| for prices to fall further.Should You Buy | | | | picking up. In practical terms, the first |
| Real Estate Now?First off, timing anything in | | | | thing you need to do is evaluate what is |
| the financial arena can be a bit of a | | | | happening in your local market.If your local |
| misnomer. History has shown that real estate | | | | market is cooling down like much of the |
| is a good investment over time regardless of | | | | nation, you are definitely coming into a |
| when you buy. Real estate also has the | | | | better position as a buyer. The reason |
| secondary benefit of being something you can | | | | primarily has to do with the timing of |
| actually live in even if the value drops, a | | | | previous buyers during the hot phase of the |
| dramatic difference from stocks which make | | | | real estate market. Those that got in during |
| very leaky homes. While stocks can be traded | | | | the beginning of run up, say five years ago, |
| on a daily or hourly basis, the nature of | | | | are sitting pretty on big appreciation gains |
| homes is such that you pretty much have to | | | | and will be able to handle any temporary dip |
| sit on your investment for some time | | | | in prices. These people are not going to be |
| regardless of how the market is going. That | | | | interested in dumping their properties, but |
| being said, the market always heats up again. | | | | another group certainly is going to.Imagine |
| The time it takes for it to do so is time you | | | | purchasing a property in March of 2006. You |
| can build equity in your property by paying | | | | would have picked up the property at |
| down the mortgage.If the market is cooling | | | | literally the highest point in the market. As |
| down now, does this present you with the | | | | real estate cools down, so does the value of |
| golden opportunity to purchase properties at | | | | your property. Demand for homes is dropping, |
| a discount now? Maybe or maybe not. Every | | | | which pushes prices down. |