Wednesday, August 8, 2012

Views on Home Ownership after the Housing Crash

After the real estate market crashed a couple years ago, many people never thought it would turn around again. The looming question is, how did the crash affect the views on owning a home? As a Fountain Hills Real Estate agent I faced the crash head on, answering questions from clients and perspective clients about when things would get better again.

A long lasting debate has been between renting and owning a home. After the crash many reports stated that home owners would turn into renters and that the rental market would rise while the ownership market would continue to crash.  However recent statistics show that people would rather purchase a home than rent a home. 

Not every person was affected by the crash, in fact about 2/3 of the country was not involved and therefore their only connection was what they saw through the media. These people were shown to not have changed their opinion on owning a home. 

Younger home owners that were immediately affected by the crash stated that they were a little shaken up over the crisis. Being new to the real estate market younger investors were not quite sure how to handle the situation, therefore questioning whether to buy or rent a home. This had many of them wondering if they should rent a home over buying. In the end many of the younger investors still decided to purchase their home based on statistics from the past year.

During my career as Fountain Hills Real Estate agent I have found the more experienced buyers can handle tougher situations. The crash had many older home buyers still thinking positively and rarely negative thoughts towards buying a home.  However reports did show that older home owners that had been forced into foreclosure did look at the market in a negative way. 

With the crash behind us and the real estate market climbing back many people say that they would definitely buy a home over renting a home. The market will continue to rise and as it does more people will feel comfortable making the decision to purchase a home.

If you have any questions regarding the real estate market, feel free to ask. Remember, if you or anyone you know is interested in buying or selling Fountain Hills real estate, you can contact me. I look forward to speaking with you!

Tina Nabers
Nabers Property Management & Real Estate
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