(This is a copy of our latest Newsletter that has been sent to our clients and friends. Send us your name and email address to be added to our monthly newsletter. Oh Yeah "refer a friend too")
Happy New Year,
Looking backwards helps us to appreciate the future. We have come a long way from the collapse of our economy which began at the end of 2005. We in real estate felt this collapse long before the public has any idea of what lied ahead. Our phones stopped ringing in October of 2005 even though prices continued rising through to the end of 2006. The public became aware of the economic disaster in 2008. It is hard to fathom that this nightmare has lasted for a decade. Home prices are finally reaching the levels that existed in 2006. Historically prices have risen for a century even though there have been multiple dips of 30% or more. Many prognosticators are predicting a crash in the market suggesting that we have created or are creating the next bubble. Our belief is that the future of real estate as well as our economy is on solid footing. Banks and other lending institutions have scrutinized buyers to a level that has created slow growth. Prices should continue to rise for several more years. The millennial generation is just now embracing the American Dream of Home Ownership. This intelligent and sophisticated faction of our society are set to drive our economy and real estate market. They are generally wiser in making financial decisions. Looking forward 2017 looks to be a breakout year. We are hopeful and there is good reason for optimism.