Are you are delaying a purchase or investing in real estate because you think there’s uncertainty in the market?
I’m going to show you why todays real estate market is identical to 1997. That’s when I began buying real estate. And back then I thought I was buying too high. Today has not just similar market conditions… but almost exact conditions.
Let me show you…
Mortgage rates just hit 7.5% back in November 2022. Since then, they’ve fallen to about 6.3%. I share other ideas about mortgage rates in todays real estate market right here. Look at this…
In 1997, a 30-year mortgage was about 9% and they were falling as well.
Today, rental rates are on the rise. As a matter of fact, 2021-2022 saw the most dramatic rise in rental rates ever. In 1997, rental rates were on the rise, too… but not at the extreme rate as this year.
In todays real estate market you can put down five, 10, 20% to buy real estate. Back then, that’s what I was putting down to buy real estate.
In todays real estate market, you can negotiate five, 10, or 15% off properties everywhere. Back then, I was negotiating five, 10, 15% off everywhere.
So if you’re delaying your purchase or delaying investing in todays real estate market because you think there’s uncertainty… there’s always uncertainty in the market.
We have no idea what’s going to happen tomorrow. We only know what todays real estate market holds.
So, if you can look out 15-30 years, you can look at todays real estate market as a great time to engage. One thing is certain – over time, real estate values rise. It’s been that way for 100 years ago. Sure, there were down turns along the way, but over time, real estate is a great investment.
Don’t be paralyzed about what may or may not happen tomorrow, or next month… or in 2023. Get in the game and own it.
Todays real estate market is one of the best I’ve seen in my 27 year career. Don’t miss out.
Why Todays Real Estate Market is Just Like 1997… From mortgage rate movements, rising rental rates, deal structure, negotiability, down payments and discounts… this real estate market is 1997 all over again.
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