Your Timing Is Impeccable
April 5, 2009
I wish I had a dollar for each time I have heard “the bubble in real estate was the start of this crisis, and the recovery of real estate will be the end of it”. This phrase is used daily on CNN, Fox, and CNBC… as it has been seemingly since this crisis began. In recent weeks, however, we finally began to see the prophecy come to fruition. And this past week, shares of homebuilding companies surged on the better-than-expected numbers in the recent “Existing Home Sales” report.
These past eighteen months have been a turbulent time for the homebuilding industry. I have seen good friends and longtime competitors struggle to adapt and survive as demand slowed and financing dried up. Here at B. L. Rieke we have even had to tighten our belt and become more cautious as we planned our next projects. Yet I am beginning to see exciting things happen.
As the backlog of existing homes leave the market at bargain prices, the demand for new homes will begin to rise. What does that mean for you if you are considering a new home? If you are looking to buy an already-constructed home, this is a great time. But if you are looking to build your dream home, you can seize this opportunity to get the maximum home for your dollar.. before the housing market swings back upward or inflation begins to cut into your buying power. I am not saying this just as a homebuilder, but as a businessman who has seen many downturns and upswings. I believe we are seeing the early signs of the recovery of real estate.. and while that means better days ahead for my industry, it means your best deal as a custom home buyer is likely occurring right now.
Have a comment or want to discuss this with B.L.? Contact us at 913-599-3393.
