America The Free
AMERICA THE FREE
Independence Day is always sentimental for me. I have become accustom to freedom; albeit, somewhat limited and perhaps even less now with the shenanigans going on in Washington DC. Still, it’s a great country and I’m proud to live here.
This article is mostly about home ownership and how it relates to freedom. As far back as we can remember, real estate ownership has been an indication of wealth or stature. The past few years have given us plenty of reason for pause, but now it appears to be moving in a favorable position for sellers.
Closed real estate transactions are up through the Realtor Association of the Sioux Empire, and it also appears there is much more residential building than any time since 2007. Actual home transfers are up nearly 15% this year over last year. Time will tell if this will continue, as the past two years started strong but fizzled mid-year. My guess is it’s here to stay, at least until the end of the year.
Interest rates are ridiculously low and won’t stay low forever, but it’s great for the moment. Buyers have been able to get more bang-for-the-buck, more so than any time in several decades.
So, here we are at the bottom of the curve from a long five-year journey of pain and misery for many sellers. Thankfully there is a reward for those who have stayed invested, preferably with even more house. The housing recovery is upon us, and those invested will see the benefit of what inflation may do to housing values during the next decade.
It’s not too late to become a homeowner. Actually, some say it’s even more advantageous now that the market has hit bottom and has started its ascent, especially with 3.5% 30-year conventional loans funding the move.
The freedom of home ownership still rings, and it’s not only a good investment but it also makes a statement about the American Dream. It is still alive in Sioux Falls, South Dakota; our principles and values have continued to keep the economy strong and vibrant. The rough patch of road we experienced wasn’t enough to keep us down and we have now crossed over to better times, mostly because we have the freedom and will to do so.
We wish you a fabulous month of celebration, and invite you to call and continue to pursue your American Dream.
Tony Ratchford,
Real Estate Broker; managing member KWRSF
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