Home Values Have Remained Unchanged

By
Real Estate Services with TheHousingGuru.com

happy familyWith all the news about the declines in residential real estate, I thought it would be good to remember that home values have remained unchanged, and, in fact, haven’t changed in decades. In the midst of a recession, and with real estate prices plummeting across the country, how can that be?

 

It’s all a matter of understanding value and the difference between value and price. While home prices have dropped, home values have remained unchanged. Home prices are determined by the market; home values, by the family residing there.

 

Certainly home ownership isn’t for everyone, and the current housing market is evidence of that; but for those who can afford to buy and for those who realize the benefits, owning a home may just be the value many are seeking in today’s chaotic environment.

 

HOME OWNERSHIP PROVIDES:

● An anchor to the community (Owners are more involved in community, civic, and political affairs)

● Stability (Owners move less often and are more likely to develop relationships with neighbors)

● Freedom (Owners can customize or modify their accommodations as they wish and as often as they wish and will reap the financial benefits of their improvements)

● Pride of ownership (Becoming a home owner provides a sense of accomplishment)

● Security (Neighborhoods filled with owners have less crime, and strangers do not have keys to your home)

● Homes provide a place for family activities (Backyard swing sets, tree houses, or room for the family pet)

 

Yes, real estate prices have suffered, but home values have remained unchanged. Homes are a place where you can plant trees and watch them grow, nurture a garden or a lifetime of memories, and where families can bloom and grow. Owning a home may not make one rich, but that home can enrich a life with a bounty beyond measure.

 

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Re-Bloggged 5 times:

Re-Blogged By Re-Blogged At
  1. BethAnn Long 02/14/2010 06:02 PM
  2. Carol Pease 02/14/2010 07:56 PM
  3. Cheryl Ritchie 02/14/2010 07:58 PM
  4. Jim Hale 02/15/2010 04:45 AM
  5. Donald Bradbury 02/15/2010 11:51 AM
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Rainmaker
1,089,947
Li Read
Caring expertise...knowledge for you!
Sea to Sky Premier Properties (Salt Spring)

Thanks for reminding us of the intrinsic and irreplacable qualities of home ownership.  

February 16, 2010 12:28 PM
Rainmaker
89,955
Mary Weaver
Expertise & Knowledge in Ruidoso-Alto Real Estate
Prudential Lynch Realty, Ruidoso, NM

Excellent post !  It's hard to put a dollar value on the quality of life, and the satisfaction of ownership, that a home can bring. Along the way, I have lived in apartments, trailers, small cabins, etc.   To me the value is in the security and tranquility of having a place to call "home".

February 16, 2010 12:37 PM
Rainmaker
453,501
John Mulkey
Housing Guru
TheHousingGuru.com

Li - Thanks for stopping by!

Mary - The best line about home ownership I ever heard was from a friend as he gave up apartment living. He said, "When I hear a door close, I want to know it's mine."

February 16, 2010 12:55 PM
Rainer
96,096
Ross Therrien
Realtor, Broker Associate
Prudential Verani Realty, Londonderry,New Hampshire

Great post, you had my interest from your topic, I had to read this one.  Very well put. The old saying, the seller establishes price the buyer sets the value.  Had a relo buyer that offered more than asking price on a property that her best friend of 30 years told her about.  She had me write the offer before she even saw it.  Why so motivated?   Her best freind lived next door.   Value. 

February 16, 2010 10:32 PM
Rainmaker
453,501
John Mulkey
Housing Guru
TheHousingGuru.com


Ross - Sometimes we forget that there is much to a purchase beyond price or expected return.

February 17, 2010 09:23 PM
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