On this Month's Cover:
1925 Adirondack Ct.
$289,900
MLS#: 98347

Presented by:
Tom Kuhn
Coldwell Banker United

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Real Estate in Time of Crisis
By Frankie Griffin

The number one question I get from students and consumers alike during this "economic crisis" is; Is real estate a good investment today and should I buy or sell a house in this economy? First of all, Real Estate is an excellent investment. It always has been and always will be. As the old saying goes, everyone has to have a place to live. The question is, do I buy or do I rent? My opinion is to buy versus renting if you plan to be in the same house for more than one year. Real Estate values go up and down just like any other investment. Real Estate just has a much better history in terms of investing then any other investment. If you are considering buying a house, NOW is the time to do it. We are obviously in a market with low prices due to the market saturation with homes for sale and so few buyers willing to buy. History has proven many times over that real estate value will go down from time to time but when it goes back up, it typically goes up higher than what it was before it starting going down. In fact, most real estate will nearly double in value every 10 years. For those considering selling their home but concerned about the value that has gone down and wondering if now is the time to sell, it depends on individual circumstances. If you are selling with plans to buy another property, then I say do it now. You really have nothing to loose. Yes, you will sell for less than you might have hoped, buy everbody is selling for less. That means the home you buy will be much less as well and when the real estate market goes back up, you will still have the investment value you were hoping for. It would really be nice to sell high and buy low but that is not a reasonable expectation. If you are thinking a selling and not re-investing in another form of real estate, now would not be the best time to sell.