Don't Trust the Media! It's time to buy Collierville Real Estate Now!

Are you thinking of buying a home or investment property but find yourself paralyzed with fear ? Do one thing.....QUIT LISTENING TO THE MEDIA NOW!

Where are all the major media in this country located? It is of course New York. How many single family homes are there in Manhattan? I'm pretty sure the answer is zero! Which is the same number of analysts that understands the Real Estate market. It is amazing to me that the housing market which drives our economy is so misunderstood by the media. At their best the media is behind the curve 3 months but more like 6-12 months behind. The numbers they quote on the nightly news are from the second quarter. The third quarter numbers have not made it to press yet. Add to this dilemma that real estate markets are very regional and the press has no idea what is going on.

Well what is going on is we are in the tail end of a Buyer's market. We can look back at history and see how we rebounded from past buyer's markets.

July 1980-March1983 Buyer's Market(The Deregulation of the mortgage industry got us out of this one. We went from having to put 20% down to being able to get 95% loans)

March 1983- Summer 1991 Seller's Market

Summer 1991-1993 Buyer's Market

1993-2006 Seller's Market (In Collierville we experienced a Buyer's market in 2000-2001)

2006-???? Buyer's Market( In Collierville we should rebound 1-2 quarter 2009, nationally it may be 3-4 quarter 2009)

The interesting thing is we always bounce back and the buyer's markets usually last 2-3 years.

Especially if you are a first time home buyer, don't have a house to sell or are wanting to move up in the local Collierville market you need to buy now!!!! This is the kind of market that 2-3 years from now you will be saying " I should have bought then!". The Real Estate market is like all other markets it has ups and downs. Warren Buffett said in a recent editorial in the New York Times "A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful."

The housing market drives our economy and the federal government knows this. everything that can be done will be done to help the struggling housing market which will ensure the next Seller's market. Also interest rates are still at historic lows. There have been only 3 years (2003-2005) that the average 30 fixed conforming rate(according to Freddie Mac) has averaged under 6%. Rates are now hovering around 6%

Just ask yourself what is the safest investment where I can get the best buy? The answer is Real Estate. So quit listening to the media and contact a real estate professional today!

Owning a home is still a good investment

Please click on the link below and read why your home may be your best hedge against rising commodity prices and inflation.
click here

Collierville Real Estate Holds Steady

Collierville Real Estate sales were down 15% in 2007 but values were slightly up .3% and price per square foot was up 1% according to Chandler Reports. The first half of 2007 was a record pace followed by a lackluster end of the year which has spilled over into 2008. In my opinion we have almost bottomed out and will start seeing the existing inventory be depleted over the spring and summer which will stabilize prices. We should start seeing things move upward by spring of 2009. Collierville which is represented by zip code 38017 is one of the top zip codes in the Memphis metro area if you look at the average sales price, number of sales and price per square foot. There are still great deal to be had and still a pretty good selection of new homes and resales. Look for the selection of new homes especially to rapidly diminish over the next few months. With little or no new homes on line behind these sales you will see new home prices rise quickly once things turn upward.