Home Prices in 2009, 2010, etc?
Just My Take....
Posted by Debra Cahill under For Buyers, For Sellers, General Information, Rates, Strictly my opinion
Home prices in 2009, 2010, etc?
A home purchase must first and foremost be looked at as shelter and lifestyle. The stability of knowing where you're going to return to every day/night after work and the ability to make it your own. A garden to grow your own vegetables, a yard for a pool, swingset, or the safety of your pets. It has always been one of the best investments you could make over the years and most of retirement wealth comes from selling one's primary residence and the tax free benefit. ($250,000 single and $500,000 married if you've lived in the home at least 2 of the previous 5 years).
Home values will continue to decrease and will ultimately drive down prices to allow economic affordability. This trend will continue through 2010 and the recovery beyond that will go hand in hand with the economy instead of our past experience of doubling and tripling every few years.
With all that said...interest rates are rumored to be falling to 4.50% very soon! What is your plan? Give me a call or send me an email....