Economic Ideas for the Holiday Season: Real Estate and the State of the Union
With the holidays just around the corner, we wanted to ponder what’s come down the pipe this year with regards to real estate and the state of the Union. They’re very much related, don’t you think?
While here in the San Juan region, from Ridgway to Ouray and Montrose to Telluride, we’ve had much the same real estate experience as the rest of the nation: higher foreclosure rates, increased levels of new home inventory, longer market cycles for sale and price corrections beyond belief. From a federal bailout to homeowners faced with unprecedented tightening of the credit market (making home ownership more challenging than ever), it’s been a banner year for change.
With the holiday season knocking on our collective front door, we’re sending out thoughts of good cheer to our readers and neighbors this week. Here are some incredible things to be thankful for as we head into the close of 2008 and the dawn of 2009:
- Regardless of your political inclinations, the 2008 election had record-breaking voter turnout across the nation. The democratic process is alive!
- With the new mortgage lending practices becoming more strict, it’s unlikely we’ll ever see again the current aftermatch of the poor decisions banks made. Future homeowners, from first-time to ten-time, will be in appropriate mortgage products underwritten by lenders who won’t be going belly-up.
- If it’s taken longer than you thought to sell your home this year, see it as an opportunity to spend another holiday season with your neighbors and current community. Visit the shops you know, your favorite local merchants and that place that makes the best holiday cakes and cookies. They’ve all had a tough year and are looking forward to seeing your smiling and familar face!
- Perhaps you have a family member affected by the current state of things: they’ve lost their home, their job…maybe some hope along with it. Open your doors and your arms this holiday season, as no one in those situations, especially family members, ever expected to be there. It’s not the end of the world, but you can help assure them it’s the chance for a new beginning.
The staff at San Juan Realty, Inc.
Tags: homes, montrose, ouray, real. estate, ridgway, san juan realty inc., telluride
