Silver Lining, Posted By Dick
Last week, I traveled to the Michigan Association of REALTORS® in Grand Rapids to talk to members there about how they can explain to potential homebuyers that there are excellent opportunities to buy a home.
As I was eating breakfast Friday morning, my server saw that I was a REALTOR® and he told me how excited he was that he had just bought a house for $80,000. It turns out that, just a few years ago, he and his fiancee were convinced that they would have to move away from Michigan if they ever wanted to buy a home because the prices were simply out of reach. It turns out that the same home he recently purchased was valued at more than $125,000 at the time.
While most cities aren't seeing declines that severe, the recent drop in home sales means that home prices are more affordable in many cities. And, with the recent interest rate cuts, mortgage rates are at the lowest levels in years. This means more consumers can now purchase a home and build wealth for the long term. So, whlie everyone else is looking at the clouds in the market, let's get out there and help our clients find their own silver lining. -- Dick Gaylord, 2008 NAR President
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Comments
Just wanted to encourage everyone in a slower market that things are not as bad as they have been. When I get a little discouraged I can still remember the 80's around here when people were walking out of their homes by the droves. Nothing can be that bad. I was in a Real Estate related field at that time working directly with Realtors. If Realtors survived that, they can survive anything. We learned that down here in S.E. Texas during Hurricane Rita. It's all in our attitudes.
Posted by: Donna Chance | January 30, 2008 12:06 AM