Friday, May 11, 2012
Home Ownership Matters
REVIVING REAL ESTATE......... THE AMERICAN DREAM OF HOME OWNERSHIP
This was the theme we choose for our motto and direction as a plan of attack for our marketing and clients, and I just read where the National Association of Realtors has also adopted the campaign that HOME OWNERSHIP MATTERS, and is even having a Rally to Protect the American Dream with a march at the Capitol on May 17th. We are hoping good things will come from this rally that will pave the road so that more people can take pride in being a home owner.
There is no better time in history than now to be purchasing a home with the interest rates being so low, and with the home prices the way they are. We do believe, and stats are proving that the market has hit it's bottom in our area and that values are starting to rise in certain areas. We had a couple appraisals come in last week with steady to increasing values being marked on the reports which is an excellent sign, and it sure beats the declining market option. Now that doesn't mean the value of your house is going to jump back up to where it was over night as this is going to be gradual, if we don't have any other economic set backs in the near future.
If you take advantage of the lower prices now, thats just that much more equity you will have in your home once this market has bounced back.
I know for sellers its a hard pill to swallow when you can't get out of your house what you paid for it, but on the flip side, you can also purchase a better house at a lower price. So its really a wash when you think about it. If you sell $300k quality home for $275K (-25k) but buy $325K house for 300K (+25k) you have recovered your $25k you thought you were losing on the sale, so everybody wins!!!
That theory won't work for every transaction or everybody because situations are always a little different, but for the most part, about 80% of the time this is a true evaulation.
It's a tough market out there now and not everybody can even qualify for a loan, but with our direction and motto in place and the NAR backing us, we hope to help anyone that makes an effort to be able to purchase a piece of the American Dream.
If you need help getting your credit in line or have questions on how to get it corrected, give us a call and we will do our very best to help. It's not hopeless, it just takes effort.
Julie, Bonny and Lynne