The Stock Market Bubble that preceded the Great Depression helped many people make a lot of money on inflated and ever increasing stock prices. The bubble burst and left millions in ruin. Sound familiar?
The Housing Market Bubble that preceded the Great Recession helped many people make a lot of money on inflated and ever increasing home prices. The bubble burst and left millions in ruin.
This is a question that will be answered in time...
What about now?
It is too easy to focus on all of the bad news. That's what sells, right? I can tell you that homes are selling, not all listings are short sales or foreclosures, prices in some areas have increased, and the federal tax credit has helped home buyers develop better financial health. What I mean by that last statement is that after the purchase, homeowners end up with OWNING a home AND having MORE money in the bank than when they started out on the house hunt.
Interest rates increasing and home prices wavering are both realities but real estate is a long term investment both financially and psychologically...This is your home.
Affordability will continue to increase, more and more first time home buyers will continue to re-enter the market and home prices and interest rates will remain within reach.
There will always be a need to sell a home and there will always be a buyer for that home.
Overall, home prices are expected to increase from 2% - 4% in 2010.
Increased prices = Increased value.
Here's the bottom line.....
The news is doing its job of reporting.
I am in the trenches. I am experiencing the trials, tribulations, and most importantly, the triumphs, and joys of this market. I have weathered the worst of this market and survived.
Are you ready to jump in? Do your homework but know that I am your trusted advisor whether you want to buy, sell, or invest...The OPPORTUNITIES are out there!
