Joan’s Real Estate Corner… Value in Homeownership
Is there value in owning a home? The recently released 2010 National Association of REALTORS® Profile of Home Buyers and Sellers bring us some promising results. Today homeowners are living in their homes longer, and after several years of price declines, are seeing rises in home equity gains.
It was only earlier this decade that so many buyers jumped on the investment bandwagon. They bought and sold within incredibly short time frames, and walked away with profits. But as the booms busted, many sellers found they had bought at the top of the market and as prices corrected, they lost more than just dollars. Foreclosure rates skyrocketed. Historically, however, homeownership is a long term investment, and one that brings many rewards. Read more