***Kim Soper's Monday Master Real Estate Tips***
Happy Monday & Welcome! It's Monday so let's get right to the point, my 2 tips for the week:
1. People always ask when the bubble is going to burst on real estate. Well many think if the last couple of years are an indication, it has burst. Now the question is when will it hit rock bottom. Well, yes prices have dropped nationwide as we hit the recession. But Lexington KY has remained a strong market. Even homeowners whose homes have experienced a slight drop in value have not panicked because they consider their home an investment. That is because they are in it for a the long haul. Many people chose to invest their money in the stock market, where values bounce up and down all day long. Historically real estate has been a stronger long term investment than the stock market. And if you want to know my perspective, for the Lexington market, if this spring is an indication, we are on the way back up. So now is the time for a buyer to make their move and snag their dream home!
2. Everyone loves when home prices soar! Interesting to note that in extremely hot markets where prices increase annual at rates of 8 % or more, those markets trend to attract more investment buyers who are looking to make a profit. That drives up prices. And that makes it more challenging for buyers. And with any investment, if the high expectations do not pan out, there may be a slew of sellers trying to sell and thus creating a flatting effect on prices.
Save yourself both time and money by working with a knowledgeable Realtor.
And that is a wrap for this week. Check back every Monday morning for more valuable tips to aid you. If you have any questions or would like more information, call or email me anytime for a one-on-one consultation.
Lexington KY is always #1 in my book! Whether you want to buy a downtown condo, a custom walkout ranch on a golf course, or a horse farm in the country, I can help find the perfect home for you – as well as help you sell your home. In addition to Lexington Real Estate, I specialize in the nearby towns of Paris, Midway, Georgetown, and Versailles.