Written by June Holder
Home sales have shifted from investment buyers from previous months, to buyers who either were previous owners or new home buyers. What motivates these buyers to push forward? Obvious reasons are low market and low interest rates!!
Buyers getting in at the low point of the market cycle will inevitably receive higher wealth gains over the next few years; even though financial gain is not their principal motivation. History shows that when buyers purchase in the low cycle of the market, will be set financially more stable than purchasing in the high cycle.
Unfortunately, many who would like to buy are either stumped by tight credit requirements or earning too little to qualify. At this stage in the cycle, it is imperative to encourage young people to stay in school. High school dropouts are far more likely to struggle economically throughout their lives than those who graduate. Even though we keep hearing the same old thing that an education is so important; no other time in the history of our country since the “Great Depression” has this been shown to us.
Now is the best time to purchase as we have seen a level off of the market; and in some instances it has turned and is beginning to rise. Utah has started to heal from the wounds of unemployment and is rising to a higher level. It is great to see people buying again and being responsible for their actions. We live in a great community, great state, wonderful country and the future looks just a little bit brighter each day!