LENDER’S VIEWPOINT
By Broker, Forest Tardibuono
Nearly two-thirds of economists and real estate experts recently polled say the U.S. housing market is at a historic turning point. This is according to MacroMarkets LLC’s June Home Price Expectations Survey published in June 2011.
In this same article was published a chart that showed a “double-dip” in the price of housing in the U.S. The graph went sharply up until 2005 then dipped down, then rose again and then dipped again – double dip.
That in itself is great news because it confirms the expert opinions indicated above. But what they did not point out, but was plain as the nose on your face, is that the graph, which started in 1987 has gone up and up and up over those 24 years.
Do you think that the value of a home you buy today will be up or down in 24 years? Survey says – UP! And did you really have to think about it? Well if you buy a home today with a payment around what you would rent it for anyway, you get tax breaks because of it, you won’t be forced to move because your landlord is selling the house, and it goes up in value over time – then who cares what the press publishes as the bad news. That’s all they publish is bad news because purportedly, that sells newspapers. Stop reading and listening to the bad news and act on what you already know!
Buy that home now because you know that over time it will pay off.
Forest Tardibuono- the Guy in the White Hat – is a CA DRE Broker with more than 23 years
