House Values are Still Increasing in Bel Air MD In June of 2006, the housing market hit its peak. The median value of homes reached its highest point at this time. Then came the crash. As everyone knows, there were several reasons for the crash. Subprime mortgages, interest only mortgages and inflated property appraisals were all part of the reason. The other issue that is not discussed often is buying power. Many people were purchasing homes that they simply could not afford. Inflated prices came about becuse so many people were willing to pay those prices. Homeowners did not want to acknowldge their roles in the crash. As time moves on and the market recovers, many people have become more cautious. Banks are very strict with their lending practices. Appraisers are under tighter and tighter scrutiny. People are feeling the pressure in every aspect of real estate. Now there is plenty of opportunity. Buying a home now is a solid investment. Over the last 10 years home prices have increased an average of 2 - 3% per year. Put your money to work for you. Enjoy your home and enjoy the equity that is building. And as always, if you are looking at buying or selling a home, give me a call, text or email. Let me help you with your investment. shawnkerr.net/Web/AR466462/Blog/post/?post_id=92610
Posted on: Wed, 10 Sep 2014 02:21:02 +0000
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