BestHomePro Blog
Advocating Trust and Transparency in Real Estate
It seems obvious that low interest rates are good for everyone. But wait a minute! Could low interest rates now hurt your home's value in the long run?
Brian Williams and Tony Asher of the Beachboys wrote great lyrics, and these days the words, "wouldn't it be nice" often echo in my head. But before we go off half-cocked, let's all consider what drives value and reward. Rewards need to be earned and attained -- not granted.
I have been educted over the last few years about the benefits of "New Urban Development," "Traditional Neighborhood Development," "New Urbanism," and "Walkable Neighborhoods." Have you?
I visited the Durham, Shannon Road Post Office yesterday and was pleasantly surprised with the changes. Somehow things had changed. The energy was inspiring and the lines were short, even though lots of customers entered and left. If only things could be this way all the time.
Home values have fallen across all markets on average about 20% in the last two years, foreclosures have been rampant and press extremely negative. But let's look back at owning a home as an investment over the last 10 plus years and see if it hasn't been a great deal for most Americans.
