Hi there. I'm singing my same song again about the Charlotte Metro Area. While other Metro Cities are showing a 10 digit decrease in property value, the Charlotte Metro Area still maintains a steady or some would say a “flat market.” Charlotte’s property values only decreased by less than 1% while places like Miami has a 26.7% decrease and Las Vegas had a 26.8% decrease.
We are at the bottom of the market and now is absolutely the best time to buy. I believe the market we have now will be the market we will have for the next couple months or even until the end of the year. When the housing market starts to grow it will be a gradual increase instead of a sudden down and up, like a “V.” A slow “up” would be better for us long term. I say this because our country has never experienced a down housing market, stock market and soaring gas prices - all at the same time.
The “FEDS” made a great decision last week in not decreasing rates but keeping them unchanged. This will help curve the rate of inflation over the next few months.
So with all this said, this is why I feel now is the best time to buy: interest rates are not going to go down and our home values are flat-lining. Buy, buy, buy!
Wednesday, July 2, 2008
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