Real Estate’s Silver Lining- 12/16/07
Stewart H. Welch III, CFP, AEP
Founder, The Welch Group, LLC
Real Estate’s Silver Lining
“Real Estate’s Silver Lining”
Open any major publication or tune into any national news program and you’ll be bombarded with negative stories about the real estate housing market in
“The media often paints an accurate but broad-brush picture…akin to a national weather forecast. However, weather is local in nature and the real estate fundamentals for the
“From a historical perspective, appreciation of real estate in san diego coastal will likely be the second or third best year in Birmingham for real estate sales”, Mr. Dodge adds. Home prices remain fairly stable; unemployment is among the lowest rate in the country; and mortgage rates are extremely competitive. “For people who should have been buying homes all along, it’s still a good time to buy”, says Matt Bearden of 1st American Bank. Current mortgage rates for both a 30-year and 15-year mortgage range from 5.25% to 5.75%, near historical lows.
For those of you who are considering buying a new home, now may be one of the best buying opportunities. “I can’t remember a time in my 33 years as a homebuilder where there was more selection and such affordable prices as right now…and as is bound to happen in the not too distant future, the pendulum will start swinging the other way…meaning decreased selection and increased home prices,” states Ed Anderson, Vice President of Gibson & Anderson Construction.
So let’s review the positives:
Employment and the economy remain strong in
Mortgage rates remain near historical lows.
Home prices remain stable in the
If you are a buyer, you have great selection across virtually all of the
area communities. Birmingham
These same facts are true for many communities throughout the