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Answered: Is Now the Time To Buy?
St. George Real Estate Podcast with Jeremy Larkin
English - October 14, 2022 07:00 - ★★★★★ - 1 ratingEducation real estate for sale real estate agents top real estate agents local real estate agents find a real estate agent home selling tips home for sale home buying home buying process property finder Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
If you’re wondering whether you should buy now, know that I just did.
“Jeremy, would you buy a home in this market?” I get asked this question a lot. The answer? I already did.
Despite rising interest rates and plenty of negative real estate news circulating, I purchased the historic “Miles House” on Main Street in my hometown of St. George!
This home is not my primary residence - I live just four blocks away.
So why would I buy now, with prices falling and interest rates rising?
I made a decision for my family because there’s always a time to purchase real estate. One of my favorite quotes is: “Don’t wait to buy real estate…buy real estate and wait!”
It sounds cliched, but recent data shows that if you owned a home for at least 10 of the last 30 years, you ALWAYS came out with positive equity!
Check this out:
Do you know of other investments that returned 621% since 1991? And how many of them had the original purchase price being paid down monthly over that time?
And imagine if you had owned a rental since 1991. A complete stranger would have paid off your entire 30-year mortgage by now!
You must make real estate purchase decisions based on **your **goals and family situation. Don’t get caught up in the market. If you intend to own a property for a long while, you can buy at almost any time.
If you have questions about this topic, just call or email me. I’d love to talk.
Happy Fall!
-Jeremy