Good Monday Morning!

Many would be home buyers and sellers are fearful of our current housing market. It certainly is a much different market than what we were experiencing just over a year ago. The reality is that mortgage interest rates in the 2.5% to 3.5% range are unrealistic, and the fact that we had them available for so many years was a blessing. Those who have been in the Real Estate market for years knew that these rates would end. They couldn't last forever! Mortgage interest rates are cyclical, as is the national housing market. When I purchased my first home, the interest rate was just under 12%. It was painful, but I was tired of paying rent, and I knew that rates would not stay at 12% to 13% forever. When the rates finally began to decline, I refinanced at 8.5%. I was a very happy homeowner at that time. My second home came about 10 years later, and mortgage interest rates were at 7.5%. I was very happy to pay such a low mortgage interest rate. I would later refinance at 3.5%, and it was like gaining free money. I still live in the same home that my wife and I purchased 27 years ago. Again, when we bought our current home, the price we paid was a struggle, and we sacrificed to be able to make the payment. The purchase price of that new home was $300,000. We used the equity that we built from the sale of our first home to move up to a much nicer and larger home. Today, the value of that home is between $950,000 and $1,000,000, and we are months away from owning it free and clear. Was it worth it to go out on a limb and buy homes that we had to sacrifice for at the time? I think it should be clear that yes, it was a good move, and in hindsight, it certainly is something that I would not hesitate to repeat. 

I mention all of this because I feel that homeownership remains one of the best investments that anyone can make. The conditions that we purchase homes under constantly change, and we go through various market cycles, but throughout the history of this country, homeownership has stood as a strong investment. The market we have today won't be the market we have tomorrow or a year from tomorrow. There will always be opportunity, and there will be challenges that come with that opportunity. But becoming a homeowner is well worth the effort and the sacrifice.

The other thing to be considered is that the alternative to purchasing a home is renting.  Renting is typically a losing proposition long-term. You build no equity, you have few, if any, tax write-offs, and you are helping your landlord make the money that should be yours. Renting can become a dead-end street, and if there is anything you can do to get out of the renting cycle, you need to explore it. If you are caught in this cycle, get in touch.  I may be able to show you some avenues to break you away from making money for a landlord and start building equity in your own home. I have helped many people purchase homes they thought they had no chance of ever owning!

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

2690 Carbona St, Eugene, OR 

Price: $355,000    Beds: 3    Baths: 1    Sq Ft: 912

This charming home is located in the desirable Santa Clara neighborhood on a HUGE lot! The warm and inviting living room welcomes you with large windows flooding the space with natural light and a cozy fireplace ready to add to the ambiance.. The di...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!