Here's
what Mr. Couperthwaite has to say about today's real estate:
Historically
speaking, house prices have always been stable – under normal conditions
houses increase in value 3-5 percent a year. But the last five years
saw wildly fluctuating prices in real estate across the country. This
‘so-called’ Real Estate Bubble was fueled by demand for houses because
of unbelievably low interest rates, relaxed mortgage lending rules (No-Money
Down) and investors who fled the stock market in droves looking for
quick profits in real estate. Real estate professionals knew that this
market was unsustainable and the end would come. It has. Those get-rich
quick days are gone. If you didn’t cash in on the rise then you missed
the boat.
Is
that such a bad thing? Not really. Everyone needs a place to live. The
market we have today is normal for real estate. Real estate is, and
always will be, a reliable investment because, as the saying goes, 'God
ain’t making anymore land'.
·
Expect a lull in the real estate market for the next six months.
This readjusting period will sort out the Get-Rich-Quick investors.
If you are looking to buy a house keep your eye on the foreclosure market.
Those ‘No-Money Down’ house loans are going to wreck havoc with lenders
as buyers just walk away from their ‘dream’ homes.
·
If you are going to sell your house in the near future expect on marketing
your property for 4-6 months. Buyers now have the leisure of taking
their time as opposed to the market of the past five years where houses
sold in 1 day and buyers were outbidding one another to purchase.
I
can help you make sense of the real estate market. I have owned property
since 1975. In those 32 years, I have seen interest rates as low as
4% and as high as 18%. I have seen house prices consistently rise despite
recessions like the white-collar recession of 1989 when houses sold
at unbelievably low prices because laid-off executives were scrambling
to find new jobs.
Real estate is a great vehicle to move forward into
the future. I
can help you find your ‘dream’ home, your favorite neighborhood, a lot
for that longed-for log cabin or even an apartment building.
I’m Robert Couperthwaite, Principal Broker/Realtor®
I Sell Real Estate!"