Wednesday, March 30, 2011

The suns out so cheer up and be positive

In real estate as in life, additude and timing are everything. We can't pretend that our current market is easy, but we can make the best of it. Many are choosing to get rid of debt (like a giant mortgage)even if they take a loss. Others are choosing to sell their properties at market value, which we all know has declined severely since the heighth of the market in the fourth quarter of 2005. Some of the decisions are tough to make. Life goes on and so does where we want to be at that time of our lives. If an owner of property decides to try and wait it out, it might work out or not. Any one who makes predictions of when we will turn into a seller's market is only guessing. Affordabilty for buyers of homes and land in Nevada County has never been higher. This opportunity won't last forever. If it's time to move up or scale down, sellers need to be priced in the market. Otherwise, they will be helping to sell their neighbor's properties that are priced correctly. Eventually the prices will rise to reflect the actual replacement cost. But today you can buy a home for well under the replacement cost. So hurry up before you miss the boat!