HOME OWNERSHIP STILL THE DREAM FOR AMERICA

A survey recently completed that appeared on the blog, "Keeping Current Matters", reveals that 91% of Americans surveyed, still say owning a home is a part of their American Dream.  But even more encouraging is the number of the "renting generation", that is 18-34 year olds who have yet to enter the market, an amazing 84% say they intend to buy.  Couple that with the affordability index that we have right now, and the real estate recovery would seem confirmed.  Just don't expect to go up as fast as it did to begin the first decade of this century, and don't expect it to go up as fast as it came down.  Finally, a note regarding short sales.  If you find yourself upside down in your home and have mitigating factors that are causing a need to move, don't assume you can't sell your property short.  There are some myths out there concerning that proposition, and you owe it to yourself to have an expert evaluate your position.  Here are two myths: 1) banks don't want to participate in a short sale.  Nothing could be further from the truth.  Banks have finally realized how much money and time they save by allowing a Realtor to sell and close escrow successfully in a short sale process.  You may even be eligible for "cash for keys" to help with your relocation.  2) The short sale process is too difficult and they often get denied.  That was true five years ago.  Banks dragged their heels and the transactions were dubbed "long sales" by those of us in the industry.  But today, the average short sale takes about 90 days unless there are unforeseen circumstances.  Make sure you know all your options.