A few days ago I was at the post office waiting in line and I was talking with a gentleman who was in Seattle. He is a snowbird and he is a visitor to our city of Palm Desert California to stay in the winter months when the average temperature for the city is 70-degrees F for about 7-8 months every year. The rain is minimal, lasting for about on average eight days during the winter, autumn, and spring seasons. He was thrilled to be here, and he had bought a new home in the area . It was an manufactured house in an attractive gated community that has an 18-hole golf course that runs around it.
He said he got the best deal he could find. It was so amazing that he couldn't resist taking it up, he couldn't resist, and he took the deal without looking, well, he looked at the pictures and videos that were available on Internet. He told me that he believed it was a good time for the purchase since he expected the real estate in the area to be picking up. He also told me that although the prices in Seattle were down by 40% after the 2008 financial crisis, right now they were picking up in about 33% per month. This is good news and it means that the real estate market, at a minimum those in residential property in his suburb in the city within Seattle was doing well.
So, is this a ideal time to purchase and sell real estate in the residential sector? It could depend on where you live The majority of cities are beginning to recover , if not yet. What do you think? Should I do it? Yes, I think it could be a good time to sell a home or buy one. We seem to be in a little real estate uptick with low interest rates and are still climbing up from the bottom. However, the situation could change following the election in the economic sense and possibly following January 1, 2013, because we could face issues due to large budget cuts.
Recently I was discussing this with a friend from Colorado who lives in the Colorado Springs area. In fact, this could be a problem due to the military cuts outlined by the sequestration plan in conjunction with and the Federal Fiscal Budget Cliff. That could cause a reduction in employment and a lot of the defense contractor-related companies may be cutting back also, which might not be very good for the region. Of course, with another round of BRAC (Base Realignment and closure) certain military bases might expand while other bases could be closed. This means that it's okay in that area, while others could be hit more severely.