Tampa Bay Home Prices Continue To Fall, But There May Be A Silver Lining In That Cloud
The Standard & Poor's/Case-Shiller Home Price Index was released on February 22nd. It reported that home prices in the Tampa Bay area fell another 2.6% in December, 2010. Prices are now at their lowest level since peaking in 2006.
If you are a buyer, this is great news!
About 90 years ago, a cowboy turned humorist named Will Rogers was trying to buy a house in Los Angeles. He had been house-hunting in LA a few years previously, and was amazed at how prices had increased in LA in such a short time. As the story goes, he made the following observation: "What I've learned is, don't wait to buy real estate. Buy real estate, and wait."
Well, the same is probably true today. With prices so low, it would be a great time to implement a buy-and-hold strategy on both your personal home and on investment properties. Someday, these prices will go back up. The only way to take advantage of that future increase is to buy now at a low price, and as Will Rogers would advise, wait.
-30-
If you are a buyer, this is great news!
About 90 years ago, a cowboy turned humorist named Will Rogers was trying to buy a house in Los Angeles. He had been house-hunting in LA a few years previously, and was amazed at how prices had increased in LA in such a short time. As the story goes, he made the following observation: "What I've learned is, don't wait to buy real estate. Buy real estate, and wait."
Well, the same is probably true today. With prices so low, it would be a great time to implement a buy-and-hold strategy on both your personal home and on investment properties. Someday, these prices will go back up. The only way to take advantage of that future increase is to buy now at a low price, and as Will Rogers would advise, wait.
-30-
posted by Terry Ward at 5:46 AM
0 Comments:
Post a Comment
<< Home