Why buy a Modesto home now? Has the Modesto Real Estate market hit bottom?
Anyone in any market of any kind (including the stock market) will tell you it’s impossible to tell when a market has absolutely bottomed. They’ll also tell you that if you wait until the bottom is officially “found” you’ll be too late to get the maximum benefit. The housing prices probably won’t DECLINE much longer. One indication of this? Many Modesto foreclosure homes are now receiving multiple offers – some sell for $5,000 — $15,000 ABOVE what’s being asked! Modesto Foreclosure home prices have declined to a price point that is approximately what the house would have been worth eight years ago! Interest rates are low now. The FED will have to raise interest rates at some point. The FED has signaled, “they won’t be going LOWER!” We’re in a “window” that won’t last forever. Our economy has entered an inflationary stage with rapidly rising prices for everything from gas to food to clothing. The prices for almost everything it takes to build a house are going up. As the replacement cos
