National Real Estate Forecast

2008-01-23T17:07:00Z

Sound familiar? Does a national weather forecast help you plan your day or your week? Why would you listen to

a national real estate forecast and plan your future around that? Real Estate markets are local. The national

media cannot tell you what is happening in the market you may be interested in. Which facts do you use? Don't

you ever think what they are projecting is going to be a self-full filling prophecy? Do you know that some home

prices in some markets have actually risen? Which facts matter? Most national news programs present a

gloomy outlook for the real estate market in general causing buyers to either stay out of the market or drop

deals they have under contract. The national newscasters are going out of their way to present a negative story

that actually affects the market as a whole. This is starting to put many markets into a tailspin, unnecessarily.

What it boils down to is the media hype and not actual market conditions are keeping buyers fearful and,

therefor, out of the market.

What do you believe? What will help you make a good decision about purchasing real estate in the coming

months? History may help – housing and real estate in general have historically been a good value and a good

investment at the same time it is a place to call home and has tax advantages. None of that has changed. There

are definitely bargains in many markets right now. Another fact is that interest rates are at historic lows and

housing choices have increased. Another fact you can use is there will be approximately 35 trillion dollars

changing hands from one generation to another in the next 10-15 years. The baby boomers parents are dying.

This older generation lived through the depression and as a result became big savers – that savings will get

passed on to another generation. What will Sally and Bob do with their inheritance? They may buy a new car,

they may pay off their mortgage or they may just buy a great second home in a resort market now – while all

conditions are favorable for that purchase. Why would you wait for the rest of the market to react? There may be

no better time than now to purchase the home or second home you have always wanted.

Don't let the media influence what may be the best time in a long time to make your real estate purchase. Savvy

buyers will be making purchases. Why shouldn't you be one of them? Don't let the media sensationalism affect

what you know to be a good decision.

Nancy Bachtel