Home ownership is one of the biggest dreams that many Americans face but find it difficult to achieve. With the declining Michigan economy and the increase in home foreclosures, the outlook hasn’t looked all that great to achieve the dream for many Americans.
However, despite all the economic forecasts and financial woes that face our country, each person must look at their personal situation to determine if they share the same financial woes as our economy does. Most people would find that the news media is a few steps behind reality. They are just now forecasting that we are heading into a recession. If you ask us, we have already been in a recession for quite some time — it has just taken the government and economy that long to face reality. Most Americans will find that they are on the uproad to financial stability – already going through the struggles they faced. During the struggles that we faced day in and day out, the news media kept showing strong reports of spending and economic stimulus. In fact, it wasn’t strong at all. Now, they are finally realizing that it is in fact bleaker than what they reported. However, now, it doesn’t appear to be all that bleak.
Homeownership is something to be proud of. It is a great investment – despite all the foreclosures and recent decline in value, statistics show that home values nearly double in 10 years. Therefore, what a great time to buy!!! Prices are down and interest rates are still good. You can now invest with little or no money down at many financial institutions and with the tax rebate checks coming soon, what a great time to invest!!!
If you are interested in investing in Manistee, Mason, Benzie or Lake Counties, please contact Team Kelley Realty today – we would love to help make your dreams come true!
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You probably have heard over and over again about the credit crunch that is happening throughout the country. The government has stepped in and are trying to come up with some plan to help (and they think they have).
Regardless of any relief that the government may or may not provide, we have to remember one thing: if we look at the history of real estate, we will see that it is an ever changing market. Sales go up and down with the economy – remember in the 80′s when interest rates were near 20%? Yes, foreclosures are at an all-time high, but soon those who can afford to buy right now will realize that NOW is the time to buy and once we get through this supply of housing, things will turn around again. History will repeat itself and prices will again rise – we just have to let it take its course.
Mortgage companies are getting smarter and protecting their investments a little more – they are working to make sure that those who should have the loans, get the loans and those that shouldn’t have them, don’t get them.
There are many reasons why there are so many foreclosures right now in our country. Some are lost jobs, over extended their credit, living beyond their means… whatever the case, it is the job of the homeowners and the mortgage companies to do their best to prevent these situations. Yes, there will always be situations beyond our control and sometimes we can’t help what situation is laid upon us. However, everyone has to do their best to avoid these situations.
If you find you are in a situation where you have to sell, Team Kelley Realty may be able to help. Give us a call.
You can’t turn on the television these days without hearing some type of news about the downturn or just how bad the real estate market is right now. Everyone has choices and this is no exception. You have the choice to either listen to the news and believe and feed into everything they are saying, or you have the choice to do something about it. We The People have the power to turn the financial woes of this country around.
In fact, if you are in the market to buy right now, you are in luck! Right now in Manistee County alone there are 357 land listings and 510 residential listings. What does this mean for buyers? You have choices.
In Michigan, the average selling price of houses are down just over 6%. In the Mason-Oceana-Manistee County area, our Board reports the average selling price to be down just over 8.5% compared to last year.
Despite this decrease in the average selling price, it has not hurt our local real estate market too much. In fact, Michigan sales are down almost 6% compared to last year while our local Board reports sales to be down less than 1%. What does this mean? Buyers are still buying, they are just buying for less. Therefore, if you are in the market to buy, now is the right time! Purchase your investment before the market bounces back! Call Team Kelley Realty today to help you with that purchase!