By Brian Summerfield, Online Editor, REALTOR® Magazine
In the past couple of years, it hasn’t always been easy to find bright spots in real estate. Falling prices, declining sales volume, increases distressed properties, tightening credit, unemployment—all of these things have afflicted, and some still afflict, our industry since the downturn began sometime during late 2007 or early 2008 (depending on where you live). And though many experts are starting to call an official recovery in housing, too many things are still too bleak for many of us to agree.
Thus, it may be harder than in years past to figure out what we can be grateful for in our business. For your consideration, though, here are a few things to be thankful for:
- Despite its difficult economic times, our country is still remarkably prosperous and free, and a place where creative, intelligent, hard-working people can succeed.
- Home sales have made some significant gains in the latter half of this year.
- Mortgage rates are at or near record lows.
- Housing is very affordable right now.
- The FHA has been able to fill much of the vacuum in the secondary mortgage market caused by the failures of Fannie and Freddie, and appears to be committed to financing conventional loans.
The list is hardly comprehensive, but it’s a start. How about you? What are you thankful for in real estate right now, and why?
Note: The Daily News e-newsletter will not mail on Thursday or Friday this week due to the holiday. Happy Thanksgiving from all of us at REALTOR® Magazine and the NATIONAL ASSOCIATION OF REALTORS®!