You might be surprised! Both the Federal Reserve and the President’s Council of Economic Advisors are forecasting an upturn in the economy sometime during 2009 . According to Forbes, now is the time to buy a home… (among other things! …. keep reading).
With interest rates hovering around 5% for a 30 year fixed-rate mortgage, and housing prices having dropped 25% , this is a window of opportunity for you… if you’re wanting to buy a house. (Or maybe you’d prefer buying something else on Forbes list?) The forecast for an economic upturn, sometime this year, coupled with government incentives ($8,000 credit for first-time home buyers) are enticing. But what ELSE should you be looking to buy?
Forbes names several hot ticket items worth buying … NOW… I was surprised by at least ONE of them. Sure, we all know there are deals on HOMES, with housing prices down 25% and mortgage rates at an historic low, but Forbes mentions a handful of other purchases worth investigating. Because of the recent drop in home home sales, consumers are buying fewer furnishings, and as a result, manufacturers are offering incentives left and right. Discount retailers (Target and Forever 21) are attracting buyers of women’s fashion. At the very top of Forbes list of what to buy before the economy recovers is REAL ESTATE. Following close behind, Forbes names diamonds, cars, furniture, and fashion apparel. Diamonds are the one item on their list that surprised me.
The opportunities are definitely there, for anyone wanting to buy a home. If you are looking to buy, please call me.