Just in case any of you thought I knew that our prices would decline as they have, I want you to know that no-one I know had this knowledge. If they had, or if I had, I would have told you. We bought at the peak of the market and our housing value is in the same boat as many of my reader's home values. Consider this:
- Historically, American home values are the best long term investment.
- Historically, Americans stay in their homes an average of 7 years.
- In some ways, our houses are like stocks market values. They are what they are. You cannot sell your stocks for less than what they're worth, period.
- We're in America, the number one nation on earth. If you bought at the peak, consider relaxing, enjoying your home, and wait that 7 years. Our area has been identified as the number one area expected to rebound in terms of housing prices.
I hope you're having a fabulous summer and that you're enjoying the fruits of your labor!
Today a Conventional Fixed Rate 30 year Residential Real Estate loan can be had for 4%. Unheard of. If the interest rates goes up .05%, your buying power could decrease by $10,000. Keep your eyes on the news. Prices on homes are down as well.
Call me if you are at all interested in information about properties out there!
Historically, my Windermere office in Marysville, wins the Food Drive contest. I hear through the grapevine that the other Snohomish County Real Estate offices are going to try to beat us. This means war! (In a good way, of course). If you want to bring canned goods or money into my office at 801 State Avenue, Marysville, Wa., please do so during the month of September. We will mount a sneak attack and pull out a come from behind win yet again!
Go Food Bank!
Interest Rates are at historical lows. Just 2 years ago interest rates were high 5's and low 6's. If you are interested in refinancing, now is the time. If you are interested in Purchasing, now is the time. The fact that interest rates are THIS LOW means your new investment property or dream home is just that much more affordable! I wouldn't wait....
