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.