The Truth About Today’s Real Estate Market … that no one’s talking about! It easy to understand why people might lack the confidence in buying or selling a home in today’s economic climate, especially if you start your day reading the newspaper headlines and end it with the evening news.
Bad news can deepen our fears and concerns about the economy. What we have to remind ourselves is that the media likes to be dramatic and it selectively reports negative news to pull in an audience and advertisers. FACT: Approximately 30% of all U.S. homes are free and clear and do not have a mortgage. During a recession, those that work hard and focus on taking action will most likely come out ahead when things turn around. Instead of internalizing the negativity the headlines can cause, choose to be an optimistic and focus on the opportunities around you. FACT: Of the 70% of households that do have a mortgage, 96% are not in foreclosure. The good news is that you have a choice to see yourself as the victim or as a fighter. Are there people buying and selling homes today? Of course there are. In fact, millions of people are still working, making money, eating at restaurants and even taking advantage of lower home prices, tax incentives and historically low interest rates. FACT: The U.S. Gross Domestic Product is more than the GDP of the next three countries combined. 1. United States $14,330,000,000,000 2. Japan $4,844,000,000,000 3. China $4,222,000,000,000 4. Germany $3,818,000,000,000 First-time buyers: Homes Are Affordable. If you have been dreaming about owning your own back yard, then now is a great time to purchase your first home. Not only are your choices abundant, but interest rates are at a historic low. In addition, the recently passed Economic Stimulus Bill of 2009 provides a tax credit for as much as 10% of the primary residence purchase – up to $8,000! And because you don’t have a home to sell, you are in prime position to leverage this incredible opportunity. Move-up buyer: Selection Is Great. Now is definitely time to buy the home you’ve always wanted. With inventory levels at an all-time high, you will have plenty of choices to ensure you get everything on your checklist! Investor: Your Buying Power Is Up. Prices have adjusted on an average 12% across the country. That mean this is a prime opportunity for you to purchase low or buy more for your money. And, financing is still available at historic low rates. If you are looking to build long-term wealth with real estate, don’t miss out on taking advantage of this market! There is still time to take advantage of lower home prices and historically low interest rate. And despite what the nightly news reports, financing is readily available for qualified buyers. Thank you for reading my blog. I love life on Hilton Head Island and enjoy helping people find their place on this beautiful island. If you need any real estate skills call me at my office 843-837-2600 on my mobile 843-304-1656 or email me at This e-mail address is being protected from spambots. You need JavaScript enabled to view it.
