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Why Buy in a Recession?

by Marcia Kronn

istock_000005755551xsmall2When is the best time to buy?  Right now…. when sellers need to sell and other buyers are sitting on the sidelines!

If now is the right time, why are some consumers still reluctant to take advantage of favorable market conditions that might not come again for decades?

1.    They don’t believe that prices are at the bottom yet.
2.    They want to sell a property somewhere else.
3.    They are just not comfortable making a decision now.
4.    They would rather wait until they see properties selling.
5.    They want to see the economy begin improving.

If you are reluctant to participate in this amazing Buyer’s Market, please read on:

1.    Just like the stock market we never know when prices are at the bottom until the bottom has passed.  Unlike stocks that are always available to purchase, the home that you like now may not be available when you are ready to purchase and most likely will not be purchased at today’s price.  Most economists, and even the “television talking heads,” agree that real estate prices are bottoming out right now!

2.    Many buyers do not realize that real estate will likely appreciate faster in Coastal Georgia than in other areas of the country.  A healthy local economy coupled with anticipated in-migration from retirees will fuel real estate demand along the coast for decades.  A smart buying strategy would dictate reducing the price of the other property and making up the difference by purchasing at the right price here.

3.    Real estate is a local market.  Local knowledge is key to making the right decisions!  Chose a well-informed, experienced and successful real estate agent to advise you.  You’ll make the right decisions… and more money! Buyers that have more knowledge will be more comfortable with their purchase and will gain more appreciation and enjoyment from the property.

4.    Don’t “Go with the Flow”, be contrarian.  Buyers that purchase in down cycles are rewarded much greater than those that wait until everyone else starts buying.  The best opportunities are available right now.

5.    “We simply attempt to be fearful when others are greedy and to be greedy when others are fearful.”  Warren Buffett.  Waiting until the media announces that the recession is over will be too late.  At this point, prices will have rebounded and inventories will be shrinking, the knowledgeable buyer will have already made his purchase and be realizing his appreciation.

These are challenging times and making a buying decision can be very difficult.  Our history indicates that this cycle will begin to improve and those that have made the decision to invest in real estate at this time will benefit the most.  Coastal Georgia remains unchanged with pristine beaches, wonderful weather, abundant outdoor activities and a thriving community.  Interest rates are at historic lows and the inventories are excellent, what are you waiting for?  Now is the best time to buy!  Call me at 888-638-4750 and I will assist you in achieving your dreams of a Coastal Georgia Lifestyle!

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