Over the past day or two, Buyers have been able to lock in a 5% interest rate on a 30 year fixed loan! These historically low rates, combined with the high inventory (creating lots of choices for Buyers) make the end of 2009 an excellent time to buy. I have seen investors scoop up great opportunities, most of which only last a short time. Those who are nervous may miss out on this excellent time to invest in real estate, whether it is intended to be a home or a rental property.
I make it a point to listen to those with a greater business pedigree and more experience. Warren Buffett is one of those men. His famous quote, “Be nervous when everyone is buying, and buy when everyone is nervous,” really applies to today’s real estate market.