Can You Overcome Your Fear? Here's the Current Buzz on Local Real Estate.
Funny how trouble that started out in 2006 as a mortgage default problem, grew to become a home purchase problem, then a banking and investment problem, and now appears to have broadened to a slowdown affecting the entire economy. News about the tumbling dollar, $4.00 gasoline, a mercurial stock market, fears of inflation and job losses seem to escalate every day. Even mortgage backed securities and money markets aren't paying enough to make saving worthwhile.
Just what are you, the canny capitalist, looking for good investment opportunities, going to do? My bet is, buy real estate!
Mortgages are still available at historically low interest rates, so long as you have enough down payment and impeccable credit. Some local home values have slipped a bit, but prices have not softened like they have in the Rust Belt, Las Vegas, Florida or communities where acres of half-built and unsold homes are competing with resales, and not much is selling. Around here they're not likely to fall much further: unlike paper money, they're not printing any more beautiful New England real estate, at least on this planet.
The basic reasons for owning and purchasing real estate remain unchanged: as a physical, tangible, desirable asset, providing shelter, sanctuary and security, it can't be beat. And as a long-term investment, it is demonstrably a sure winner. For generations of our ancestors, clear back to the Pilgrim fathers, the land owners have always come out ahead.
Where would you rather invest your wealth? Under your mattress or into real property?
Please remember where you read this good news first! I'm looking forward to your thoughts. Please remember that my real estate practice is all about assisting you, if you're looking to buy or sell real estate, or if you know someone who is!