INVESTING

Have you heard the saying buy low and sell high?

When do most people buy? When prices are at their peak - everything looks rosy, prices are rising so it must be a good time to buy, right??? Probably NOT!

The housing market just capped a tremendous run of several years of double digit appreciation. Did you know that 1 out of 3 home sales have been second home purchases?

There are currently 40,000 homes on the market in the Twin Cities, up from 36,000 homes this time in 2006. It was a buyers market then, what about now???

From 2006 levels, weekly home listings are UP 20%. However, weekly home sales are DOWN 20%!

Going back to my opening statement. People are shying away from the market right now because it's down. I'd say now is exactly the right time to buy! The market is flooded & sellers are feeling a little desperate to say the least.

If you're renting, you should look at buying something, ANYTHING, just to start building equity for yourself rather than the man.

If you are thinking about investing, think about the following:

- fixer-upper (look closely at neighboring homes to determine value)

- buy a rental (duplex or a home in an established area)

- buy a home for your college age kids to live in

- buy a vacation home or vacation property

More to follow in an up-coming article on these choices.

Get in the game, NOW is the time!