Posted by: Roby Robertson | June 11, 2009

Lake Norman | Things to Buy Before The Economy Improves

According to Forbes magazine, ‘ Now may be your time and for those feeling bold enough to bargain shop, there are opportunities abound!’

The President’s Council of Economic advisors and the Federal Reserve now believe the economy will being to recover sometime in 2009.

Great news but also a warning to consumers.  The deals now available in everything from houses and cars to TV’s and furniture will  not last forever.

So here are a few things to consider buying now for those with the vision to see the future:

Big Ticket Items

At the top if the list is housing.  This may be the best time in a generation to buy a home.  According to the S&P/Case Schiller Us National Home Price Index, 4th quarter 2008 prices were down up to 25%.  The stimulus bill the Congress passed includes an$8000 tax credit.  According to Bankrate.com, the average interest rates are beginning to dip below 5% for fixed rate mortgates.  In the Lake Norman area, there is more inventory of choices than we have seen in years, if ever!

Incentives from builders and manufacturers and sellers have ‘probably NEVER been as strong as they are today’!   In the automobile industry there cash rebates of up to $6000 and you can still get 0% financing!

Consumer Goods

Every year big ticket items like T.V.’s get cheaper and cheaper, however this year those decreases are starting to make larger flat-panel TV’s far more affordable. The radio/television price index is down 9% from a year ago. More manufacturers are getting into the flat-panel business which is driving prices down.

Sale thing for furniture. Prices have fallen 2.4% since August according to the Consumer Price Index but bigger bargains are out there. With excess inventory, retailers are having to lower prices which is bringing better deals!

Retail

Womens fashion is also an interesting story. Right there is no dominat fashion trend and women have been taken advantage of lower cost closing retailers not feeling the need to spend more on expensive outfits. This allows the lower-cost chains to reduce prices even further which is forcing the higher priced chains to follow suit!

Sadly, someday the recession will end and these opportunites will go away . However, bargains are out there for as long as the downturn holds. Thinking of buying a Lake Norman area home! Now be the best time in your lifetime!

Note: According to Pew Research Center, the Charlotte area is ranked 3rd in the list of cites where people are relocating.

If you are in the market for a Lake Norman area home, please feel free to contact your Lake Norman agent at 704 451 7051.

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