Knowing when to get out is one of the hardest decisions one has to make in a lifetime. What’s even harder, is knowing when to get in. I would have been rich if I had invested in Google, or if I had sold my home when the market was hot, or had got out when I was up $1000 in Blackjack. These are all situations that we regret and would love to go back in time to correct them. Whether it was greed, listening to one of our friends/family, or just scared to take the risk, we wish we had made the right decision. This leads me to my discussion of the housing market.

Have we hit the bottom of the housing market? I can’t tell you for sure but there are many hints that have me believing that we have. In some areas of Arlington, VA and Washington D.C., housing prices have gone up. This is shocking news to buyers out there. However, this is the truth. Most of the buyer mentalities right now are very relaxed. They believe they can take their time. In reality, they’re going to miss out of the market and catch it on the way up. Interest rates are below 6% and that is phenomenal. One of the biggest things that I see right now is that buyers are holding out for the interest rates to drop. I understand that we all want the lowest rate possible but a rate below 6% is a great rate regardless. It’s like saying I wish I had bought stock when it was $20/share instead you bought it for $25/share. Now the stock is up to $500/share. In the long run you made a great buy and it doesn’t really make that big of a difference.

If you are searching for a home right now, you’re witnessing the bottom of the market. In a few years from now we’ll all look back and see that 2008 was the bottom of the market and those who purchased then will be the wise buyers.

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