Tuesday, April 7, 2009
Save the Economy, Buy A House
As you all know, real estate sales have been a bit difficult within the past few months. The economy has slowed down a bit, and everyday on the news you hear terrible, fear invoking stories about this bank closing, or that guy losing his job. The news would have you believe that the world is ending. Is it really going to end? Maybe, but probably not anytime soon. What is going on in the real estate markets in North Alabama?If you want to know the truth, things are actually improving quite a bit. In our market, winter is typically slow, and sales tend to pick up in the spring and summer, only to trail off again in the fall. This is cyclical and happens every year without fail. We are seeing a bit of improvement in real estate sales. While we certainly aren't back up to the numbers we were during the boom times of yesteryear, we aren't doing as bad as mainstream media would like you to believe. Stories of doom and gloom sell newspapers and increase ratings, but that doesn't mean that you shouldn't continue on with your life as normal.
If you've got a steady job, good credit, and money for a down payment, then for you there is no better time to buy than the market that we have right now. Why? Let's look at a few reasons:
- Have you seen interest rates lately? They're currently in the 4's. That is EXTREMELY low, and who knows where they will be tomorrow. The mortgage on my personal house has a 6.25% interest loan I got back in December 2007, and I was excited my rate was so low.
- Have you looked at the houses on the market lately? There are many sellers out there who have to sell in order to buy another house. This includes those that have already relocated because of their jobs, and have found it difficult to sell in our current market. Add to that all of the inexpensive foreclosed homes out there, and you have got yourself a bonafide Buyer's Market. If you can't find yourself a deal out there today, you've either got expensive taste, or you ain't looking.
- The economy is slower than many of us have ever seen. Want to help stimulate the economy? One of the most economy-stimulating things a consumer can do is buy a house. Think of all that goes into housing. You buy a house from someone, that person is then able to buy another house, and then that chain continues from buyer to seller, on and on and on. Then think of all the services, utilities, consumer goods that go into keeping a house up and running. Electricity, furniture, food, clothing, water, lawn mowers, internet service providers, etc. Just one person buying a house can stimulate the economy many times over when you think of how many families will be affected in that home buying chain you've started.
- "If you build it..." You've heard that before, right? Building a house includes all of the economy stimulation of normal home ownership and then multiplies it substantially. Think of all the people who you will help keep employed if you build a house. The plumbers, the builders, the carpenters (no, not Karen), the surveyors, electricians, and the list goes on and on.
So, there you have it. Want to really save the world? Buy a house. Want to REALLY save it? Build one.
Home Grown Real Estate: Helping You Save the World. Buy, Sell, Remodel, or Build with us today!Joshua B. Pettus
Home Grown Real Estate
President/Broker
http://www.homegrownrealestate.net
http://homegrownrealestate.blogspot.com
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