For the most part, except for building and home real estate sales, the market continues to chug along and real estate is just 5% of the overall economy. Despite the negative reports that we all receive there are many reasons why I continue to be optimistic about the reported “crisis” in the real estate market. In part because we have had another great year and the fourth quarter pipeline of business is very strong. I see this as a time of opportunity; you make money when you buy – not when you sell. That is, if you buy right it sets you up for profit when you sell. On top of that you get to enjoy the use of the property while you own it.
Why the continued optimism? Typically, home owners who are in the market for the long-term nearly always come out on top in building wealth. Mortgage rates are historically favorable, there is a wide selection of inventory and the worst in the credit crunch appears to be over. There are more jobs, incomes have increased and there is more wealth. Finally, and I have written this before, there is a pent-up buyer demand.
The HACC Wine Tasting is tonight! Good news, we have had a ton of rain in September and October so our lake and pond levels are really up compared to earlier this summer. We won’t have to put on that dock extension after all or worry about pulling our boats off the lift.
Have a great weekend; come on up and see us!
Life is Good, Enjoy!
Gary A. Nathan and Amanda Mavis
