Wednesday, October 5, 2011

Home Values are Better Than You Think

A Home continues to be your best investment!!!  And that doesn't count a home's"priceless" value as a place to raise your kids, share time with friends or just escape after a long day of work.
Yet with all the news on home values and foreclosures, buyers and sellers alike have sat on the sidelines as they were uncertain if it made sense to buy a home.  in the past month, an AP article even stated that real estate may never be the value to Americans that it once was.
Recently, Van Rose, a principle with Rose & Womble Realty, shared with the company a topic that I have brought up to buyers and sellers over the past couple of years.   The topic:  HOME VALUES OVER THE PAST 10 YEARS CONTINUE TO OUTPACE HISTIORICAL RESULTS.
In the graph below, the Blue line notes the actual appreciation experienced in Hampton Roads since 2000. The Yellow line notes the historical 4% rate of increase that has been the 50 year average.
Not hard to see the "hot years" strong appreciation or the tough depreciation of the past two years.  Yet look at the delta(difference) after 2010.   A $50,000 positive variance!!!!   What investment would you shun that over a 10 year period beat the last 50 years average.
Also note the flattening trend....and the solid expectation that we will resume price appreciation in late 2011/2012.  

                                   AND WHAT DO YOU GET???
             A clear sign that any one needs a new home for any of the many reasons that cause an individual or family to need to make a change:                       

                                    CALL A REALTOR AND GET GOING!!!

Existing Home Prices vs Standard Appreciation
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