WolfTeam News

Let’s face it, nearly every day we hear bad news about real estate somewhere. 

Here are a couple things to remember.  First, real estate markets are “local”, not national.  The media finds a story in one market, and prints it like everywhere is same.  It’s just not that way, but it sells newspapers.  The Anchorage market is the Anchorage market, not the Vegas market, or the Florida market.

Geese flying over a marshy pond in Anchorage

More economists are forecasting a healthier housing market in the near future.  Recently Yale University economist Robert Shiller, who tracks housing prices nationally, said that property values may have reached a bottom.

A survey from the National Association of Realtors (NAR) shows that 80 percent of second home purchasers say now is a good time to buy real estate.  That’s even higher than the percentage who see growing opportunities in the market for primary residences.  Many vacation property buyers say they’d rather put their money in real estate now than in the stock market.

The public is increasingly optimistic that the nation’s economy will improve in the next year.

And here’s my second thing to remember;  Home ownership still works!  The most important investment you can make in your lifetime is real estate.  Yes, I’ll agree we’ve had a couple years of off market or real estate declines, but prior to that, we had 24 consecutive good years! 

 Our government believes it is good for people to own their own homes.  That is why we can deduct mortgage interest from our taxes, and get other favorable tax breaks for buying investment property.  Home ownership is a foundation of a family’s long term stability and their wealth over time.  This is one of the reasons for the $8,000 housing stimulus bill that we have in effect until December 1, 2009.

And at the end of the day, you have to live somewhere.  There are certainly more options available when you own your home!