There is an expression, "the only way that you will see the bottom of the market is in your rear view mirror" This is very true. It is nearly impossible to time the market perfectly. I met a guy 10 years ago who is still waiting for the bottom of the market. He's now 55 and never owned a home. While waiting for the perfect opportunity he's probably spent upwards of $500,000 on rent over the past 30 years or so.
While waiting for the perfect opportunity he has spent more in rent that he ever might have "lost" being a homeowner. The statistics are staggering, homeowners have 7 times the net wealth of renters by some accounts. The Real estate market is fluid and cyclical, as are all markets. In my opininion nothing beats the feeling of being "the master of your own domain". At the end of the day home ownership is about quality of life. It makes sense financially as well. So whether it be in Randolph, Morristown, Denville, or any other town, there may never be a better time. If the market has turned the corner the time act is NOW!
Author:Andy Walker Phone: 201-424-8628 Dated: June 26th 2012 Views: 1,069 About Andy: Having lived in New Jersey for over 20 years, I have been a top producing Realtor and member of the ...
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