Sunday, November 11, 2012

Is Now A Good Time to Buy or Sell Residential Real Estate?

The other day, I was at the post office standing in line and I was talking to a gentleman who lived in Seattle. He is a snowbird, and he comes to our city, Palm desert California to reside in the winter months where the average ambient temperature is 70-degrees F for about 7 to 8 months per year. It only rains eight days on average during the fall, winter, and spring seasons. He was glad to be here, and he had bought a new home in the area, actually a manufactured home in a nice gated community with 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.