What are you waiting for?

What Are You Waiting For?

In 2006 – 2007 we saw the highest housing prices and sales on record. Why with today’s housing prices  – still on average less than 65% of those homes values – and with today interest rates more than 2% less than during that time frame are most still not buying in today’s market.

Really – What Are You Waiting For?

Has our attitude towards home ownership diminished? Is it more important to own a $70,000 car or even a pair of cars along with a boat or jet-skis? It still amazes me to see how people have this misconception of value or order of importance.

You have heard me state this before in past blog pages that I have not owned a new car in 20 years. I always buy used cars.

My neighbor across the street is the opposite, every three years he and his wife get brand new cars and recently a new boat. Every Sunday like clockwork at 7:30 am they are out in their driveway washing and waxing their two cars and their Harley Davidson. By 11 am they are off to the leased boat dock to go out on their Sunday afternoon boat ride.

They are in better financial shape than most. They have their toys with very little debt but zero in retirement savings But they look like they have it all.

Others I know have brand new cars and trucks, boats, jet-skis and campers yet rent the home they live in. They work Monday through Friday and enjoy their weekends. I mean really what’s wrong with that? They are enjoying their themselves. However I have trouble understanding why someone would rather rent a home for $1500 per month when they could own the same home with a mortgage loan payment of under $1200.

I know we all have different strengths, values and goals. But as I look at everything people buy I wonder if they understand what appreciates or depreciates. None of the above items appreciates in value over time.

Does real estate depreciate? At times yes, but in the long run your home could be your greatest asset for your retirement plan. All those cars boats and jet-skis are not going to supplement your long-term retirement goals.

Do American’s need to find their way back to the basics starting with home ownership or is our focus to be on today’s toys and count on the government for tomorrow’s retirement system. I don’t know about you but I do not know many people who are enjoying their retirement based on our social security system.

Don’t miss out on today’s market and your future. Ask questions, get prequalified, don’t wait get all your facts and we will see you at a happy closing table.