Grand Lake Real Estate NewsWednesday, September 9th, 2009
I like to read James B. Stewart’s column in the Wall Street Journal and also in Smart Money. Over time I have found him to have many words of wisdom that I can apply to life and investments. Yesterday’s Wall Street Journal, September 2, 2009 his column in the Personal Journal section of the paper was on the housing market.
Mr. Stewart reported in his column that the S & P/Case Shiller U.S. National Home Price index of real estate values had increased in value from the first quarter of 2009. This is the first quarter on quarter increase in three years. It’s index of 20 major cities showed all but 2 had increasing home values. He went on to talk about how the data would suggest a bottom in real estate prices in the hard hit markets. He pointed out the low mortgage rates and now should be a time to buy real estate. He talked of the historical norm of real estate going up about 3% per year and perhaps that is what we will go back to.
The last pargarph of his article, I thought, said it all. I quote him, “Homeownership has been a central part of the American dream. It delivers security, pride of ownership, a sense of community, and a decent investment return as a bonus. <>
I think Mr. Stewart has said alot in the last sentence above. Many parts of our country including Florida and Nevada saw huge runups in home prices that were unrealistic. We have now seen them come back down. In central USA including NE Oklahoma home prices did not jump in unsustainable numbers but have went up alittle each year and continue to hold that trend. You can buy a home that is very reasonably priced compared to other areas of the country and the value will hold. If you have been holding off buying that new family home, a second home at the lake, or a retirement home now might be the time to get active and make that purchase. If your economic house is in order you will never find a better time to buy than now. Interest rates are at all time lows, prices are reasonable, the selection of homes in Grove and Grand Lake is not huge but we have a good selection to pick from, and today is the first day of the rest of your life. Why not get out and enjoy life.
A second home at the lake is a good investment for your dollar but also a great investment in family ties. Family ties could make it the best investment of your life. For help in finding your dream home contact the Grand Lake Team at RE/MAX Grand Lake in Grove, OK. Aaron Hughes may be reached at 918 801-5645 or firstname.lastname@example.org. Joe Neill may be reached at 918 640-3300 or email@example.com. We know the Grand Lake area and the Grand Lake MLS listings. We can make your serach for a new home more inclusive, less stressful, and fun. We hope to hear from you soon.