The other day, I was at the postal office waiting in line and I was speaking with a gentleman who lived in Seattle. He's a snowbird, and this man comes to our city, Palm desert California to reside in the winter months exactly where the average ambient climate is 70-degrees F around 7 to 8 months yearly. It only rains eight days usually while in the fall, winter, and spring seasons. He was glad to always be here, and that he had purchased a new property in the area, actually a manufactured home in a nice gated community accompanied by a golf course surrounding it.
He said he got a deal that was so good he couldn't pass it up, he couldn't say no, and he bought it sight unseen actually, well, he looked at the videos and pictures on the Internet. He told me that he felt like it was a good time for him to buy because he expected the real estate in this area to pick up. He noted to me that although the prices in Seattle had fallen some 40% after the 2008 crash, right now they were picking up in about 3% per month. That's a good thing and that means the real estate, at least the residential real estate in his area in a suburb city of Seattle was doing well.
So, is this the best time to buy or sell residential housing? Actually it might be depending on where you live, most areas are beginning to recover if they haven't already. So you ask; should I go for it? Well, I'd say that this might be a good time to sell a home or buy one. We seem to be in a little real estate uptick, low interest rates, and still climbing back up from the bottom. Too, things could change after the election economic wise, perhaps after January 1, 2013 as we might have a problem due to major budget cuts.
A short while ago, I was discussing this with a friend from Colorado, residing in the Colorado Springs area. Indeed, this may be a challenge as a consequence of military cuts proposed by a sequestration maneuver with the Federal Fiscal Budget Cliff. That might cause a job losses and several of the defense contractor supporting companies could possibly be laying off also, which may not be so great for the area. Needless to say, with another round of BRAC (Base Realignment and Closure) some military bases could expand while others might be closed down. Therefore, it might be okay in that area, whilst others might get hit worse.
It is rarely easy buying property, and it's really nearly impossible to get right every occasion, but it is essential to yourself and your family, as well as your financial future that you don't make major mistakes. In case you are intending to make a move, ensure that it is the right choice, research before you buy, and take into account some of what I've said here today. Please consider all this and think on it.
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Hong Leong Garden will be revamped into a new mixed development up to 12 storeys of residential and commercial units. You can find out more about other new launches in Singapore at Propertychatter.
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