And now… the GOOD NEWS
It is hard to feel positive with regards to today’s housing market specifically, and our economy in general, with all the bad press. Whether you’re planning to buy a home or already own one, take a look at the big picture where things can be seen in a more positive light.
The following chart provided by the national association of REALTORS shows that housing has become more affordable in the past 3 years while median income has continued to grow. Median home prices are down nationally, rates are down too, yet income has still increased. What does that mean? It means more people qualify to buy homes … that’s good news!
If you currently own a home, it can be depressing to think you have been losing ground. When you look at the long term picture, however it is easier to see that real estate is a sound long term investment.
According to Northern New England Real Estate Network and New Hampshire Association of REALTORS:
Statewide from 1998 thru 2008 median price increased 84 % from a median price of $127,500 to $235,000. In Carroll County from 1998 thru 2008, median home price increased 116 %.
Median price in 1998 in Carroll County was $95,000 at year end 2008 the median price was $205,000.
All of this is good news for folks who live, work and play in the Mt. Washington Valley. If you do not currently own a home, talk to a REALTOR! They can help you find a home and can guide you to a lender who may be able to assist you in getting into a home … sooner than later!