I was thinking watching Jeremy’s presentation, with Rates at a 50 year low and affordability at a 20-30 year low, this will be the best time in most of our lives to buy a house. If rates don’t return to these kind of lows for another 50 years, we will all be selling our houses and moving in to assisted living facilities when that happens. In addition, the chance that rates this low are coupled with this type of affordability occurs again within any of our lifetimes is minimal. Somehow we need to help quantify these numbers for people within their lifespan (as morbid as that sounds) to allow us to explain to people why this is such a great time to buy.
I think we also need to show people the value they are getting buying today while rates are 4.25 – 4.5 vs. 6.00, 7.00, 8.00 rates that we all know will come in the not too distant future. We need to show them the monthly savings they get from buying a home and getting a low rate today, and then how that savings over time can be invested and work for them, especially as rates begin to rise, and there are more higher yielding investment options.
Many of today’s homeowners have only owned in the frenzy, and they forget, that for most of history when you buy a home you live in it for 20, 30, 40 plus years. People have been so caught up in real estate as a short term investment, that they forget it really is a long term investment. We need to bring some longevity of thought back to the home-buying process and use that to help encourage people to buy today while it really profits them both today and in the long run.
Sorry for my wordiness here, but I really feel strongly that we can help people today make a financial decision today that will be excellent for them over the remainder of their lives. I am excited because it means growth for us, but in tandem with a really strong benefit to our clients. We may never see a better and more rewarding time to put people in homes as we do today, and I want all of us to get excited about that.
Just some thoughts, thanks.
Rachel Kraines
Asst Branch Manager
480.292.5492 Blackberry
866.557.8997 Fax
rkraines@firstcal.net
www.firstcal.net
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