Real Estate Outlook

The world is not coming to an end! Even better, the real estate market is looking up. In Sunday's paper here in Atlantic County the Press of Atlantic City had a entire section devoted to the real estate market in our area. It was a breathe of fresh air to get out hard facts for people to see that everything isn't as bad as most news outlets makes it out to be.

Some key points that I thought were interested was number one chart on median home prices in Southern New Jersey. The most important thing to take from this is that real estate is NOT A BAD INVESTMENT! It's one of the best investments you will ever make, if you do it right. You see, you hear so much about people losing their homes to foreclosure and short sales that you wonder why would I ever buy something so big! Yet if you really look at it, for what you have paid in rent for the last 10 years you probably could have bought 2, maybe 3 houses!

In Atlantic County, over 5 years "they" are projecting that in most towns you will see between a 2%-61% increased return on your investment! In some towns, median home prices even INCREASED from 2008-2009. For example, Galloway Twp saw a $20,000 increase in median sales price. That's substantial considering the market. Overall sals volume has increased each month from last year to this year, but sales priced did fall. So, homes are selling, but the prices are becoming more realistic. You have to remember, for a long time you were paying "bubble" prices on a home.

It's important for everyone reading this to realize that it isn't all bad. There is substantial opportunity out there for those brave enough to reach out and ask the right questions. Anyone purchasing a home right now during this first-time homebuyer surge, if they are smart, will see a return on their investment when they are ready to move again 5-10 years from now. Those who pull out all their equity to buy other things when the market turns around will be the ones suffering years from now, just as some are suffering now.

The point is, invest in your lives the smart way. Buy a home that you can afford based on your own judgement of monthly budgeting. Buy a home you can see yourself living in for the next 5-10 years while you start your family, establish your career. And most of all, buy a home that you can call your own. The tax benefits, tax credits, and pride greatly outweigh the what-if scenerios you could play all day.

I can help you get there. I can show you how much you can afford, I can estimate your payments. I can show you how you can buy with no money down. It's your choice, it's your life, I am only the road-map to get you home. So if you or someone you know is looking to buy or sell, send them my way, they won't be dissappointed.