Regan on Real Estate

These are tough economic times. Stock markets the world over are crashing. The price of oil, which just last July was at an all-time high, has been cut down by more than half due to falling demand. Big companies are suffering huge losses, leading to plant closures and massive layoffs. A dark cloud of uncertainty hangs over everyone’s heads.

It’s not all gloom and doom though, for some smart buyers at least. Here’s why. There have been a lot of foreclosures recently because a lot of people could no longer afford their mortgages. This has led to the crash of the US housing market (which a lot of people are now blaming for this global economic slowdown), leading to very low prices for a lot of houses. And yes, in these uncertain times, a low price on anything is basically good.

This is why some smart buyers are buying their houses now. Instead of waiting for things to stabilize, they are buying now because they know that now is when they can get the best deal. Most sellers, who are more scared than buyers, would be more than willing to accept a low bid they wouldn’t have otherwise considered just a few months ago.

That’s why it’s not all bad. Now is the time most people can get the houses they probably could not have afforded just a few months ago.

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