Your Primary Residence is not the same as 1,000 Shares of Microsoft!

Listening to one of my favorite financial prognosticators, Mad Money's Jim Cramer on CNBC, I noticed how he is quick to look at the data, make a decision and go forward. Are there risks? Certainly. Anytime you make a decision in the financial world there are risks to be assumed. Such is the case when dealing with the real estate market.

If you are considering purchasing a home right now you may be sitting on the fence. Depending on who you listen to, the advice can vary tremendously. You are evaluating your circumstances. You are watching the home prices. You are hearing some folks say buy, some say wait.

Is the market near the bottom in your locale? No one knows for sure. But, as opposed to Mr. Cramer's investment advice, purchasing a home (unless you an investor) should be looked upon as, not an investment to grow wealth but rather, a necessity.

Historically home prices have appreciated. Some folks who bought years ago have reaped benefits upon the sale of the property. But these cases are usually long term. Sure, some investors made lots of money over the past few years as the market boomed. But, some less shrewd, Johny-come-late investors, lost their rear ends! In real estate no one has a crystal ball - even the experts!

Your primary residence is not the same as 1000 shares of Microsoft!

There may be short term risks. Will the price of housing continue to go down? If so, how much? What about interest rates? If the rates go up, could your purchasing power could go down? What about insurance costs? No one knows when, not if, the cost of home owner's insurance will rise. What about your income? Is there a good ( or go down as in retirement) chance it will rise in the future? There are a lot of unknowns in life and real estate!

My advice - purchase if you understand and can accept the risks.

This is probably not the time to buy at a level that will stretch your ability to pay. But, if you are ready to buy, this market may present some good opportunities. Only you - not any real estate agent - can tell you it is right for you to buy.

If you believe it is the time for you to buy and you are in the Viera, Suntree, Rockledge and Melbourne, Florida market, please feel free to call me.

Gary Waters, Century 21 Baytree Realty, Melbourne, Florida, 1-321-255-2600. Email me at agent@moving2brevard.com .