All of us have been inundated with depressing economic news for the past five years. The internet, television, radio, newspapers and social media are full of reports, opinions and statistics about the stock market, banking, interest rates, foreclosures, real estate and more.
Many of these reports, forecasts and opinions vary dramatically on their conclusions leaving the average American very confused.
It should be obvious to all by now that interest rates are fabulous, real estate inventory is excellent and real estate prices are very affordable. It is an excellent time for first time homebuyers, investors and sellers who wish to sell and either downsize or buy a larger house. These are all market truths.
However, here is the reality. Even though the public would hope to always buy
low, sell high, make a great investment, get a fabulous deal, etc., the truth is that there are other factors at play that may be more important.
Why Buy or Sell? In general because your life dictates it. The family is growing, children are leaving for college, an elderly parent has moved in, a job has been lost or a higher paying job has been attained … on and on. Life happens, things change and that determines our needs. The bottom line is that a house is a home. It is where we raise a family, entertain friends, garden,
enjoy our hobbies, etc. More often than not, this is truly why we buy or sell—it is our core motivation and needs that are involved and that is as it should be. In these challenging times it may be very important for all of us to remember this and return to the true core values of home ownership.