The Staging Diva®, Debra Gould, who has bought and sold 8 of her own properties in both hot and cold real estate markets, debunks the myth that people have stopped buying houses.
Smart people buying real estate despite slow market warnings
Today’s real estate market is actually a very good one for first-time and trade-up home buyers because interest rates and prices are low.
“Over the long term, real estate is always a sound investment, especially if you’re living in it,” says Debra Gould who has bought 8 homes in both hot and cold real estate markets. “The only people losing money in real estate (and in the stock market, for that matter) are those who bought at the height of the market and have to sell at a loss. Real estate moves in cycles, and prices will eventually rebound.”
“If you’re considering trading up to a more expensive home, now is the time to do it,” says Debra Gould who is not a real estate agent but has made money over the years flipping her own properties.
“If the market goes up 10% and you have a $300,000 home, your home’s value will only go up by $30,000. On the other hand, if you have a $500,000 home, your home’s value will increase $50,000 over the same period.”
“But you should only trade up to the $500,000 home if you can afford the $200,000 price difference,” she adds.
Like the opportunity to trade up in a slower market, or the chance to get in now if you’ve been priced out as a first time buyer for the past several years, there are many opportunities in real estate today.
That’s why people who feel comfortable with their income source and aren’t drowning in debt will continue to buy and sell homes. And this means a continued growth in demand for home staging services.
According to the National Association of Realtors® there were 4.9 million homes sold in the U.S. in 2008, and the projection for 2009 sees that number growing by 6.6% to 5.2 million.
Furthermore, all the doom-and-gloom news about declining property values fails to mention how much more homes are still worth today than they were 10 or 15 years ago in most markets.
Debra Gould, founder of the Staging Diva® Home Staging Business Training Program says, “With over 5.2 million houses projected to sell in the U.S. in 2009 alone, that’s a huge potential demand for home stagers. As you can see from this projected growth of 6.6%, the real estate market hasn’t come to a dead stop at all!”
For more information and a more balanced look at the current economy and real estate market, download your free copy of Debra Gould’s special report: “Can I grow a home staging business in a depressed economy?”