Real Estate remains a good shelter

For  agents who represent RELECTANT FIRST TIME BUYERS there is some interesting research from the Federal Reserve. Between 1995 and 2004, the average renter accumulated $4,000 in wealth. In contrast, the average homeowner accumulated $184,400. Furthermore, the typical homeowner holds their property for six years. Within this period of time, research shows that approximately 97 percent of the homeowners will have a positive equity position after that period of time.

Bottom line: 2008 represents the best window that buyers will have to find excellent deals with excellent financing. Get the word out there. IF THEY WAIT, prices and interest rates will be higher and the reluctant buyer may be forced out of the market.

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