Greg's View of the end of the year market

The savings between now and 2 years ago is extraordinary. For those buyers that are in a position to buy in the current environment, they will be telling their grandchildren about the "buy" they were able to get in '08/'09!

In my 15+ years of experience, there has not been a period that has been more conducive to securing a deal of a lifetime in the Brainerd Lakes Area Real Estate Market.

If you have time, it certainly would be worth a day to come up and take a look to see what you think. And for those that live in the area, now may be the time to get that lake home you have always wished for. I know, I know you are thinking yeah, he's a REALTOR what else would he say. All I can do is report what I am seeing and help those that wish to take advantage of this great market. It really is a better market than anything I have seen in all my years of experience. From a REALTOR'S stand-point it is just shocking to me that more people are not out snapping up these bargains.

There is one item to factor into the decision making process and that is whether you have to sell another property in order to purchase your next one.

When the markets emerge in favor of one segment it means that another segment is also affected. It is much like Newton's 3rd law if you will in that for every action is an equal and opposite reaction. While the values for buyers are extraordinary, those prices are having the opposite reaction to the values of just about every segment of the market.

But stay with me for a couple more minutes. If you do have a property to sell AND you plan to move up in price, your net gain will likely be positive for you. Let me illustrate. Let's say that you have a property that was valued at $200,000 a year or two ago. And if it has lessened in value by 10% (which is very likely it has) your new value is $180,000. But if you take advantage of the market and buy a $300,000 property that also has taken a 10% reduction in value the savings is $10,000! ($30,000-$20,000=$10,000) Now factor in the extremely low interest rates that are available currently and the savings can really mount up.

I will do my best to keep you posted as the markets shift. In this new and changing economy I felt posting a blog would be the best way I could keep everyone updated as to what the local market is looking like.

Stay Warm and Have a Happy New Year!!!

Greg Shepard Starts a Blog

Please return soon for current insights on today's changing marketplace and what it means for real estate sales in the Brainerd Lakes Market.