As a broker, my job is to list and sell homes, so of course, I'm going to tell you that you should invest in real estate if you want to build long term and lasting wealth.
We all know that the housing market took a big hit in late 2008-2009 and the recovery has been slow. Although things are looking better with rising prices and a lack of inventory, causing cases of multiple offers, values have not skyrocketed like they did in the period between 2005-and mid 2008.
Some pundits have insisted that perhaps housing is not the best investment vehicle for long term wealth acquisition. A recent KCM blog offers a little insight on this question. Please click here to read the article.
All in all, it appears that home ownership is still the single smartest and safest way to build long term wealth.
When you're looking to buy or sell a property, please give me a call. I always contribute a portion of my commissions to the Wenatchee Valley Humane Society. With your help we can put some deserving dogs and cats into new homes too!
Last week I was interviewed by KPQ radio for the business beat talking about the health of the real estate industry in the Wenatchee Valley. Pacific Appraisal Associates prepares and publishes a monthly snap shot report showing how the market is compared to the same month in the previous year.
This report shows a vast improvement in the local housing market. See the most recent Snap Shot Report here.
The number of homes sold and the actual dollar volume has increased significantly when compared to April 2012. It also shows that the number of new listings is decreasing and that will eventually lead to a slow down of sales.
In another post, I've been talking about the lack of inventory nationwide and how 2013 will be a great year to try to sell your home. Low interest rates and low inventory equate to the best seller's market that we've seen for several years. Don't miss your chance if you're thinking about selling – now is a great time.
When you're ready to sell your property give me a call and lets talk about how my experience and marketing plan can help you achieve your real estate goals.
It's an exciting time in real estate! According to the National Association of Realtors, sales in February were up the second highest they've been in the last three years. But the problem is finding inventory. As the economy recovers, buyers are snapping up inventory and according to NAR chief economist Lawrence Yun, that limited inventory is holding back the market in many areas.
According to Yun, the sure fire way to alleviate this shortage is to build new homes.
"Only new home construction can genuinely help relieve the inventory shortage, and housing starts need to rise at least 50 percent from current levels," he said. "Most local home builders are small businesses and simply don't have access to capital on Wall Street. Clearer regulatory rules, applied to construction loans for smaller community banks and credit unions, could bring many small-sized builders back into the market."
That could bode very well for our local market indeed.
Check out the full article on the NAR website here and watch this video commentary from Mr. Yun about supply constraints slowing pending sales in the Western market.
In this recent real estate news article by NewsGenius.com, respondents to a Fannie Mae survey showed a belief that it is a good time to sell a home. The study found that nearly twice as many people think now a good time to sell compared to a year ago. A record number also believe that prices will rise over the next year.
I'm seeing the same thing here in the Wenatchee Valley. Low inventory levels in all prices ranges, historically low interest rates and pent up buyer demand is creating a sellers market. Recently I've seen several properties with multiple offer submitted. This is welcome news if you're thinking about selling your home. Of course, the home still needs to be priced correctly, staged, clean and always show ready. Landscaping needs to be show-ready as well. Lawns mowed, shrubs trimmed and flowers gardens freshly planted. This is the first impression – so curb appeal is key.