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Thereis a lot of debate in Edmonton right now, about whether it is the righttime to buy or not. The timing of a home purchase depends on manyfactors including your personal finances, goals and desires, as well asexternal factors such as affordability, the economy, financingavailability and more. $ m$ F1 R, i$ w+ }# o o
I can't answer when the best time to buy for every individual is, but I'd like to put something in perspective.7 J9 O4 t% }0 G" m
( ], Y$ O4 w, u# E/ r: z0 qTheabove image is something I quickly put together to represent a snapshotof the housing market. The red line represents average prices over ashort period of time - real estate prices tend to rise and fall on theshort term, while rising overall on the long term. 5 `' z( e U5 [2 u, W. N
The green arrow represents where everyone wants to buy: when pricesare as low as they can get in the current economic climate. The problemis, you never know when the market is at the green arrow until a fewmonths afterwards. What ends up happening is that most of the peoplewho were waiting for the green arrow realize prices are on the risesomewhere around the blue arrow, and come into the market togethercreating competition and causing prices to rise further. All the whilethe selection of homes for sale shrinks.
& i- f) ?) i" `5 \/ l7 uNow, I don't know exactly where we are on that red line right now,(I'll probably be able to tell you in a couple of months...lol).Anyway, for argument's sake, lets say we're about where the red arrowis; there is a huge selection of properties available on the market,and relatively little competition. Prices have dropped and may drop alittle further, but there is potential for an increase in the shortterm as well.
4 }- E( c. j/ E4 V1 W( U9 L, h S* TFor as rocky as things have been in the stock markets the and medialately, it looks like prices may have come down only .9% for January. Not exactly cause for panic. However, there are good and bad stats outthere, and as I said earlier, you have to make your own decisions basedon your personal circumstances.
% Q, b6 O) A" k+ j% SSo in the end what I'm trying to get at, is that you can aim for thegreen arrow, but don't get stuck with everyone else at the blue arrow.If you shop at the red arrow (when most people are reluctant to enterthe market) you'll have more to choose from, more negotiating power,and less competition.... as long as you can swallow prices dropping alittle further before they start to pick up again./ p* Y: |$ W- ]% \- P+ h. I& Z B1 `
***Foot note*** k+ U4 E. b" Y6 O
" K3 `1 |- U/ Z+ ~- If you are one of the many people who are currently looking atbuying be aware that different areas, different price ranges, anddifferent types of products are performing differently. You should beworking with someone who knows what's going on and what represents goodvalue in this market.
- There is clearly a divergence occurring in the market between wellpriced or competitively priced properties and over-priced properties.
- Buyer activity is reminiscent of late late 2006 and early 2007,although sales will probably not reflect that as buyers are takinglonger to make decisions. Things are moving, some are moving quickly,but there is also a lot a crap on the market at outrageous prices.
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发表于 2008-2-1 10:12
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发表于 2008-2-1 10:21
