How often do we hear our clients say this? Maybe every day. And how do you answer them? As part of the SMDRA Statistics Committee we have discussed this and here is how you get a deal. WAIT.
Buy now and wait a couple quarters or even a year. Home prices are rising by 2% a quarter for the last 3 years and our median sales price last month for all home types was $405k. In 3 months a median priced home will probably be worth about $413k and in a year about $437k. This is how you get a deal—BUY NOW AND WAIT.
You see…investing is NOT about timing the market; it’s about TIME in the market. This is true with every asset you can invest in.