Why Falling Home Values Make Now the Right Time to Buy!

Why Falling Home Values Make Now the Right Time to Buy!
Zillow, an online real-estate marketplace, revealed this month that American home values have fallen half a trillion dollars since 2008. That’s an impossibly high number for the human mind to conceive. To give you a frame of reference, the population of the entire world is just below 7 billion. Half a trillion dollars is around 500 billion dollars. That’s approximately 71 times more than the entire population of the world. Spread this across American homes, and you’re looking at significant home value drops.

This isn’t great news for American homeowners, although traditionally the housing market has always righted itself and even grown past earlier peaks. However, it’s great news for home buyers, because that means you’re getting homes marginally to drastically discounted from the price you would have paid a few years ago. The exact discount varies depending on the marketplace, but most marketplaces have seen drops from anywhere to $10,000 in median home value to over $100,000 in home values.

Zillow also reports that home values are stabilizing. The stabilization of the economy and the availability of homebuyer tax credits mean that more people are buying, and so the housing market is settling at current values. What does this mean for you as a buyer?

This means that now is the time to get your dream home. Housing prices have been steadily declining since 2008, or as far back as 2007 in some areas. Housing prices aren’t likely to drop much further, based on current data and the state of the economy, so waiting for home prices to fall further isn’t going to yield a benefit.

More, though; following a significant decline in home value, home prices tend to stabilize for a short time and then slowly begin climbing again. If you wait too long, you won’t get the low prices that you’ll find in home markets now; in fact, some markets are already beginning to see rising prices again. Wait, and you can’t capitalize on this unusual opportunity to buy low. Buy now, and you have a chance to see instant profit grow in your home as values – and resale opportunities – grow.

Whether you’re buying your dream home now, or even just a starter home that you’ll resell at a profit down the road, now is the time to buy. Ready to get started? Fill out one of our Creative Homeowner Solution Requests today, and let us help you take advantage of this rare opportunity to buy low, and capitalize on current home values.

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