Pura's Blog

Everyday news comes out that the real estate market is doing poorly...well, it's true.  But, the reason the market has taken a dive is due to a multitude of reasons.  Lenders gave "pulse loans" - if you had a pulse , you got a loan.  Homeowners were cashing in on skyrocketing property values by refinancing and believing the bubble would never burst.  Builders over saturated the market.  New construction was like weeds - cropping up everywhere.

With the advent of cable shows demonstrating only the upside of "flipping" a property, the philosophy of homeowners changed. 

This might seem like a news flash, but there was a time when people purchased a home, because they really loved the home; they wanted to raise their families in the home; they wanted goods schools for their kids; they planned to retire and, at some point, pass on the "family home" to their children.  

A home should never be a mere investment or an ATM machine.  A property becomes a home when you develop memories that remain with you for a lifetime, such as a special celebration, a backyard barbecue with neighbors, etc. 

As all markets suffer from cyclical changes, we are now experiencing a correction in the real estate sector.  However, the real estate market has proven to be a solid investment - an investment in family and community.  The financial aspect hasn't been too shabby either.