Everytime the tv or the radio goes on we are overwhelmed with different newscasters and financial gurus giving their opinions and market predictions. Has doomsday happened or is it yet to come? Has the sky fallen or are we still waiting for it to fall? And that oh so lovely bubble....has it burst yet???
I just want to scream!!!
What happened to buying a home that you love JUST BECAUSE YOU LOVE THE HOME?!?! I really can't remember when the change happened. Did it happen when I was sleeping? Did someone flick the switch on the lightbulb? Or did a neon sign light up that said "A home is an overgrown stock ....buy, buy, buy and flip, flip, flip!!!"
Where did "buy and stay" go?
If people looked at a home as a long term "investment" than the question "Is it going to go down more in value next year?" wouldn't be applicable. I know it isn't real life anymore to stay in your home for 30 or so years like our parents did (at least mine did and I am almost, but NOT QUITE, 40 yrs old). I can guarantee you my parents didn't buy their home wondering and worrying what it was going to be worth in 2 months or 2 years. It was a place to raise their family. They scrimped and struggled to make that payment every month, and believe me we did without. But it IS real to buy with the foresight of staying for 7 years or so. And if a home is purchased with that type of range in mind a value loss is no longer a concern. Yes, prices have corrected and yes there could be some more correction to come but then the ball starts slowly rolling the other way. First the ball stops rolling, than it takes a slow but not complete roll the other way, than it starts to creep some more, than it makes one complete roll and than it rolls again and again and again. Before too long prices start rising!!!
Don't think of your house primarily as an investment. Think of it as your home. Find a neighborhood that fits, a house you love, and a fixed-rate mortgage you can afford -- and forget about trying to game the market. If you're happy where you are, you are far more likely to stay there awhile -- which is, of course, the best way to maximize your investment.
Visit Southeastern Massachusetts most informative website.
Bobbie Files
Keller Williams Realty
508-789-0217 Direct
bobbiefiles@kw.com
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