It’s spring in Summit County. That means 50° one day and a foot of snow the next! It kind of reminds me of the stock market. We’ve been through some troubling economic times recently, but the good news is that ups and downs in the stock market and the housing market have always occurred, just not as dramatically as we’ve seen over the past number of years. I wish I were like Merlin the Magician of King Arthur’s Court and could remember the future, but as I get older, I find that more difficult to do!
I feel confident that things are going to turn around in the near future. The late Sir John Templeton, founder of the Templeton Group of international funds, said that the next bull market starts at the height of pessimism. Are we at the height yet? No one knows, but we can see that the stock market is climbing and real estate prices are starting to stabilize, if not increase. Is this upward trend going to continue? Historically, this has proven to be the case.
I see encouraging signs in the real estate market. Existing home sales increased in January, 2011 for the third straight month at a pace that is above year-ago levels according to the National Association of Realtors®. At the same time, the median home price in the U.S. is starting to rise.
Although I can’t say for certain that the housing bust is over, this looks like a good time, if it is within your means, to consider investing in Summit County real estate. There is a large selection of properties available in Breckenridge and the surrounding areas. With plenty of low-interest loans available and some truly amazing properties at incredible prices, I believe that now is the time to consider Summit County investment properties.