According to most of the major news sources; Fannie Mae and Freddie Mac are on life support and Indy Mac should be tried as a war criminal. Combined with the current price for a gallon of gasoline and the "weakness" of the U.S. dollar, one would be INSANE to buy a home today, right?
"Buy Low, Sell High"
That's how one makes money in the stock market. Well, that's also how one makes money in the real estate market! After all, real estate is a commodity, an investment and a tax shelter. But it's more:
- It's a dream (Home Ownership)
- It's a lifetime
- It's a family
- It's memories
It's many different things to many different people. Can anyone place a price on a lifetime, or period, of memories?
20/20 Hind-sight:
Remember the late seventies, early eighties? Remember the late eighties, early nineties? Knowing what we know today, is it safe to say we all would have bought homes then if we could have? Of course we would have! Why then, are we scared to death to buy in the late 0's?
What does all this have to do with real estate in Toms River, NJ?
Everything! Although all real estate is local, perception is not. We, as consumers, are influenced by national and global news, events and yes, trends, or dare I say it, fads. We like to buy what everyone else is buying, when they are buying, and vice-verse.
So, a "bedroom community" within an hours drive of the financial capital of the world, with access to the Atlantic Ocean and the Pinelands, is prone to the same prejudice and social pressure as every other "place to live", or is it?
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