Housing Remains a Good Investment

During the housing boom of 2006, all of the experts were saying that the gains were not sustainable and you may recall predictions that the "bubble" would "burst".....and it did. Fortunately, Upstate New York has emerged relatively unscathed from the housing downturn experienced in much of the country.

For 38 consecutive years, the National Association of REALTORS reported continuous increases in the national median sales price. Year after year prices continued to climb and homes appreciated in value, including the Upstate market. While we may not have experienced the dramatic increases that occured in Florida, California, Arizona and other states, we also did not experience the dramatic decrease either. We were envious of reports of people doubling or even tripling their investment but now are relieved that we are not in the dire straights some of these markets have found themselves in.

Bottom line, this long-term trend of home appreciation will continue in the future making real estate a good investment for the future. Yes, we're seeing tougher terms and larger downpayment requirements but mortgage money continues to be made available. And programs such as FHA, VA, SONYMA and others continue to be a viable offer for buyers that are not able to make a large downpayment. Even with the end of the "tax credit era," there are still many grant programs and incentives available....not to mention the fact that interest rates remain very low.

Don't let media reports and fears of "doom and gloom" for real estate discourage you. If you're thinking of buying or selling, it's a great time to take advantage of the current market conditions and the long term gain of owning real estate.

Good news is, you've come to the right place! Nothnagle.com is your connection throughout Upstate New York and across the globe. Are you interested in getting started? Want to find out what your home is worth? Looking to find out what is on the market? We have the right professional for you. Contact any agent direct or call 899-MOVE (toll free 866-295-MOVE) or click on our "Live Chat" feature to get started.