Remember the last boom when buyers were saying things like, “I’d better buy now before the market increases too much.” Or the investor would say, “If only I bought last year…” This is the time to buy, if you can, but proceed with caution.
Currently the market is saturated with rental properties resulting in rents going down (not great for investors). What would cash flow 6 months ago, may not today.
With investors gobbling up the low inventory, people who actually want to by to live in a home (many times first time home buyers) are getting shut down and shut out. Be patient, prices may not continue to rise…. here’s a good read on why the market may not continue to go up.
Will more inventory come on the market as prices go up? This is what we are starting to see happen. Should sellers wait to get more over time? Or will they miss this golden opportunity to sell?
What does your crystal ball tell you?
Keith Klassen, Broker – 916.669.9030