The article in yesterday’s Press Democrat titled “Slide to Continue” was ‘of-course’ about the ‘horrific’ Real Estate market was actually very interesting. Ashley Young -the example used in the article- did take advantage of the current market and bought her home in Windsor for $470,000. About 2 years ago that house might have sold for $630,000. I am proud of Ashley, she is taking advantage of the cycle in Real Estate. About 15 years ago we had the same type of market and at a seminar I recently attended some people mentioned that they bought in that down market 15 years ago and were glad they did.
Real Estate is worth the investment however…. in the long run. If you bought your home about 6 years ago your chances are about 100% that you will sell it for more than you bought.
So what will you do? Sell you house and move up to a house that is also less in value (less property taxes too)? Take advantage and make the difficult move to own instead of rent? Or start building your investment portfolio and purchase a rental property? The rental market is great and the rents will go up the coming years.
And despite of what you might think: interest rates are at an historical low and there are a lot of great programs available.
Have a great day!
Mirjam