Buy Low – Sell High? Just Buy
I can’t believe there will ever be a better time to buy real estate in Chattanooga than now. What makes me so sure? Prices in Chattanooga, after adjusting for inflation, have never been better.We should have been insulated from the current correction for inflation since we only appreciate about 2.5 – 5% annually. Where is the need for correction in that? Where we did get caught is in the national recession that finally hit home and started forcing price adjustments in Chattanooga around the first of 2009.So, where’s the perk? The prices are really low because of the recession. But, they have also been further influenced by the large number of foreclosures in all price ranges. There is also the benefit of incredible interest rates – today at 4.875. Lastly, if you haven’t owned a home in at least 3 years or you are a first time home buyer, there is the federal governments’ buyer incentive. Does it get any better than this? I don’t think so.
