Homes no longer like a bad relationship
As the market correction continues to occur, first off as buyers remember don’t miss out on some great deals out there, if you are eligible to buy. Some potential buyers have taken the wait and see approach over the past year. However, many who have bought, have found that there are sellers who are willing to negotiate, and some fantastic deals can be found. Let’s get real, as a buyer you have a lot of artillery in your offence right now in this market, and as a seller, yes you may get less for your property than you would have a couple yrs back, meaning less equity, but it’s all relative in the long run, because you can acquire your next property for less as well.
So realistically it comes down to this, the change is the turnover rates of homes. Rather than a home being like being in a bad relationship, where there is constant quick turnover rates, it seems that we will be rewinding the clocks 15yrs. Now, the trend is changing back to the norm, before this ridiculous unrealistic Real Estate Boom that occurred. By default, as naturally it will take more time to build up equity, this in turn will cause home owners to become closer to their homes, do some renos here and there to make things work, stay longer, be more content, strengthen the bond with their home, and once again maybe a house will become a home.
Cheers, Happy 2013