Have Patience

By
Real Estate Broker/Owner with eDrake

I believe that this financial melt-down proves once again that real estate is the best investment one can make. Not to become an investor of real estate but to own a house, live in it and reap the rewards of ownership. Buy a house with the vision that it will provide for your family - for life if need be. Own it, appreciate it and maintain it and it will appreciate for you. Stay within your financial restrictions and you will considerably raise your percentages of selling it when you choose and for a better price.

People have been led to believe that financial gain is the primary reason to buy a home. They are wrong - shelter, enrichment, self expression, storage and stability in life and financial stability, these are the main reasons to own a home. I believe that the first five reasons are the strongest, ask someone who does not have shelter. Like so many other aspects of our culture, homeownership became an idea bastardized by greed instead of being seen for what it is - a basic human need of protection.

Renting provides shelter, enrichment, self expression, storage and stability in life and financial stability; it also is the base of residential and commercial real estate investment.

I hope that financial institutions stick to the current, more strict criteria of lending, but, I doubt they will greed usually wins out just look back at history. I hope that people realize that for the majority of us there are gradations in life - live at home, rent, buy small, have a family and move up - and for most this does not happen overnight. Have patience and enjoy the moment.

edward Peterson, broker

eDrakeRealEstate.com 

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