The economic downturn (aka recession) that started as early as 2007 in some markets and lasted until 2010 was indeed painful. There were a lot of good people who lost just about everything they had. Some who were wealthy watched it fade slowly away as the economic dipped lower and lower into a bad recession. I know for a fact that a lot of us learned some hard lessons in economics and money management. I have made a commitment to live differently and manage differently.
With all of that said, there are a lot of people who are fearful of trying to sell their house. In some cases, it was the only large investment that they have and they watched it’s value take a nose-dive during the recession. I am fully aware that my personal home lost at least 25% of its value during that time. I have seen the market come back. It some geographical areas the demand has brought the market back to nearly pre-recession prices. It other areas, it’s a bit slower to return.
I recommend doing some due diligence regarding your current situation. I recommend an assessment of where your house fits in today’s market. I also recommend that all of this information needs to fit into your life plan. Where do you want to live and work? Where do you want your kids to go to school? Where do you want to be financially in the next 10 years?
Don’t be afraid to gather the information. You may want to wait a bit longer, but it may possibly be that the time is NOW for you to move! I’d love to discuss in depth your situation and help you make the best possible decision for your family and your situation. If you determine it’s time to move – I can help. If you determine you should stay put a bit longer – I’ll keep you updated regarding the market. I’d love to serve you and your family as your trusted Real Estate Adviser (aka REALTOR)! Please shoot me an email (dhicks@mwestrealty.com), a text, or call me!
Be Strong & Brave!! Facts chase away fear!
Dwayne Hicks, REALTOR
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