“There are more millionaires created in a recession than in an up market”.
Brian Buffini
Despite recent home price declines, home owners who purchased their home six years ago have seen their home value rise 24.3 percent, on average. Owning a Cheyenne home is an investment in your future. It helps build long-term wealth and provides significant social and tax benefits.
Facts to know:
- More than 1000 banks closed in 1930 – only 14 U.S. banks have been taken over in 2008
- There are 76 million households in the U.S. that own their home – 24 million of these are free and clear.
- There are 52 million homes with mortgages – 97.2% of these are NOT in foreclosure, 93.8% of these are current on their payments.
- 40% of all foreclosures are non-owner occupied.
- In the 1970’s approximately 6.9 million homes were sold.
- In the 1980’s approximately 7.3 million homes were sold.
- In the 1990’s approximately 8.8 million homes were sold.
- In the 2000’s approximately 12.7 million homes have been sold, so far.
Realtor’s knowledge of their local market is invaluable. Your Real Estate Resource Team help people buy, sell and invest in real estate every day. Our local market is still appreciating 2.5% despite recent trends in other markets. Cheyenne’s sellers are still receiving 98% of their asking price and average days on the market are still at a low of 77 days for existing construction. We have approximately seven months worth of inventory which means you, as a buyer or investor, have many choices. You’ll be able to find a home you will really love and cash in on the great interest rates we have today. Waiting often doesn’t pay. Buyer opportunities have never been better, so increase your long-term wealth by purchasing your first home, move-up home, or an investment with built-in equity. Your fortune will be assured!
Resources: Wall Street Journal/Moody’s Economy.com/Realty Trac/NAR/Forbes
Posted by: R.S.V.P. Team
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