Real Estate A Generational Opportunity

With interest rates at ridiculous lows and affordability quite high, you may have been hearing that this is the best time to buy a home, an investment property or just about any real estate. I’ve even heard from some economists calling this a generational opportunity to buy, meaning this will be and is the best time to buy for the next 10-20 years.That’s a bold statement if you take it at face value.
So with all the hype surrounding the housing market, why is it that hardly any of you are taking advantage and jumping in like the whole world is telling you to? The answer: Fear, perception and information overload.

Fear is undoubtedly the number one reason why most people are hesitant to buy a home.
Following the collapse of the housing market as we know it, many potential home buyers are reluctant to take the risk of buying just to see their equity get wiped out like so many of us have experienced in San Diego County, and especially here in Chula Vista.

Perception and information overload are tied together in a way.
If I was to ask five different people what they thought of the real estate market and where it is heading the next couple of years, I would be surprised to hear two of them give me the same outlook and perspective. Why? Simply because of the amount of information we hear, read and see can be quite overwhelming and often deceiving.

For example: A news station may report on housing data just released that shows that home sales were down 18% year over year for the month of June.

While at the same time a different station reports home sales were up 11% in June compared to May.

Both of the news stations are reporting on the exact same housing data, both are accurate reports yet one sounds Negative and the other sounds Positive.

So how’s the market?

Unless you really do your research, your opinion on the real estate market will depend only on what you’ve heard from the news and others which is quite frankly called being misinformed. With so much data available I always do my best to inform my clients on what the housing market is doing so that they can make the best decisions for them and their families. After all, this is a “generational opportunity”. Will you miss it?