Economic Recovery and Real Estate

The state of our economy and the real estate market has historically gone hand in hand. We hear softly in the wind the whispers of recession. With expert economists and Realtors projecting some markets throughout the country may fall an additional 15 to 20%.  Which could push for a deeper whisper.

Yet, wait there maybe some good news. While no one can dispute the real estate down turn and the impact it has had on the country there have been additional powers that have also caused economic ciaos and are just as critical to our recovery. We have seen the sharpest correction in the oil and commodities markets in years. If we can decrease the fuel impact on our agricultural products and our cost at the pump, we would be putting money back into the pocket books of Americans. This would allow more money for consumers to apply to their mortgage and decrease the heighten levels of stress most Americans are experiencing.

Real estate is not the only force affecting our economy. While selling may not be ideal for some sellers, the opportunities for buyers are amazing. While I do not hold a crystal ball to what the future holds for my beloved real estate market, I can say with confidence that those investing in this real estate market should be doing it wisely, with the assistance of a creditable Realtor and mortgage professional. Interest rates are still very low while housing affordability is the best it has been in decades.

My advice… Sit down with your personal finances and assess how you can invest in this market. Educate yourself on your options, your limitations, and your opportunities. If you have credit issues start working on them and start saving money to assist you when it comes time to purchase that American dream or those investment properties.