While this post may not be wildly popular with the real estate community..In my opinion, it needs to be said:
This economy has put a strain on everyone's lives; that goes without saying. But without sounding like "Susie Sunshine" here, there IS a silver lining to this recession. It has taught all of us to do what our grandparents have always known-decide what you REALLY want and SAVE for it. There is pure satisfaction in knowing that you just purchased that bag with your hard earned cash and you won't be paying for it month after month on your credit card.The difference between paying with cold hard cash is a tangible one as well. Having to physically count out each bill and coin makes it pretty hard to ignore how much of your money you're actually handing over. When signing those credit card slips you can somehow con yourself into believing that it's not really money you're spending.
This new outlook on spending is of course, spilling over into the real estate market. The mortgage industry is just not as eager to squeeze you into that home that you probably shouldn't be buying anyway. Good thing. Buyers are home shopping with a more realistic attitude these days. While that 5 bedroom home with all that extra space might be nice, the reality of having to heat that home down the road has taken on a more important place in the decision making. The concept of having a Plan B in case you lose your job has become one of the deciding factors in a home purchase these days, thankfully. In years past, the idea of losing your job seemed like some fairy-tale possibility off in the distance.
So, to you-Nasty old recession- I say, " Thank you for the reality check, we are learning to take responsibility for our actions, practicing the age-old art of saving our pennies and becoming aware of all the true waste in our lives." Kudos to us!
All of you savvy home shoppers in the Montgomery and Berks County areas of Pennsylvania, I'd be more than happy to help you find the home of your dreams-just give me a shout:
SoldbyFaith@aol.com
Faith