Are you thinking about buying a home or condo in greater Cincinnati then the following information is for you!
50% of what you hear and read tells you that the world is ending and don’t invest your any money into anything….especially real estate. The remaining 50% is screaming that now is the time to buy!
Who do you believe?
A recent survey conducted by Coldwell Banker (the mothership) reinforced what most of us already kn0w- buying real estate really is a head game. The report approached the post recession real estate market from a different angle using a pychotherapist, Dr. Robi Ludwig to analyze the concept of home ownership. In the past many buyers were motivated to buy a home by emotions rather than financials. The survey reinforces that even in a roller coaster economy….”the home is still the emotional center of our lives and helps to define who we are.”
• A majority of U.S. adults (79 percent) indicate the recession has caused society to rethink the concept of homeownership.
• In fact, 84 percent of U.S. adults agree more people took owning a home for granted before the recession, and nearly three-quarters (72 percent) said they feel like Americans have a greater respect for it now than they did before the recession.
• Seventy-five (75) percent of U.S. adults agree that due to changes in the housing market and/or economy there has been an overemphasis on the financial value of a home rather than the emotional value of a home.
And while the big question of rent versus buy is solely a financial decision for many of today’s potential buyers- the ability to obtain a mortgage is more difficult-the final decision to buy is almost as much emotional as financial. The good news is that today’s motivated buyers can pretty much pick and choose from a plentiful supply of homes and condos in greater Cincinnati- the question is then will they ignore the head games and start making offers.
If you’re looking to buy a home soon -are you shopping with your head or with a spreadsheet?