June 4, 2005
THE REAL (ESTATE) STORY
by Larry Underhill
Broker-Owner
DOUBLE BUBBLE TROUBLE? Have you heard the mounting buzz about a "real estate bubble?" Fear is one of the most marketable commodities for newsmeisters of' all stripes. The fact that the real estate market is cyclical is NOT new information. The way I’ve heard some of the talking heads speak, you'd think Chicken Little was right! I'm here to tell you that the sky is not going to fall when the market softens and prices stop rising by double digits year after year.
A RECENT news article mentioned the early 1990's, when "home prices dropped 22%. What the article failed to mention is that those same homes
have appreciated more than a HUNDRED percent since then! The only folks who lost money on the market downturn were those who "sold short" for one reason or another. Those who stayed the course are doing just fine, thank you!
As Lodi Association of Realtors President Randy Snider was quoted last week, we live in the second- most-affordable area in the entire state! I recently heard Michael Zagaris, Broker Owner of PMZ Real Estate, talk about the future of our Valley. His take: Over the long term, the Central Valley is one of the best places to invest in real estate. The restrictions
on new-home building compounded by the influx of newcomers means a continued shortage of housing, which will keep real estate values strong in the decades to come. China's emergence as a world economic power is causing industries that deal with Pacific Rim countries to migrate to the west coast (nearer to their Asian clients). Our area is the logical (affordable) destination of choice.
BOTTOM LINE: If you own Central Valley real estate, you're In the right place at the right time! Don’t let the naysayers get you down. Ask 'em, "If
so smart, why ain't you rich?"
WORD PICTURE: If you were to graph Valley real estate values over many decades, it would look like a wazy staircase: An upswing followed by a flattening out or even a decline in values, followed by another strong upswing, and so on. The important thing to note is that the trend is ever upward! When the soft market comes, stay the course! Good times will return.
MY LISTING at 33 Goshawk Court in lovely Wallace Lake Estates is still very much on the market! Priced right at $519,950, this 2215-square-foothome is only one year old! Upscale features throughout: Central vac system! Beautiful travertine flooring! Plantation shutters! Classy kitchen! Three-car garage! All of this and more in a gated community with top-of-the-hill views! Call me for a private showing.
NIBBLES already on 653 Sandpiper Circle! I'm Not surprised. At $399,950 for 1715 square feet of two-story three-bedroom two and a half bath home, this one will go quickly!
Another great value: 2177 Eaton Drivel 3000Square feet! FIVE bedrooms! THREE baths! THREE car garage! Upscale filtered above-groundPOOL! $579,950 if you hurry!
THANK YOU to all who have helped make the first five months of 2005 so GREAT! Many of YOU are the reason for my success! You are appreciated. Have a happy week! See you next Sat.
by Larry Underhill
Broker-Owner
DOUBLE BUBBLE TROUBLE? Have you heard the mounting buzz about a "real estate bubble?" Fear is one of the most marketable commodities for newsmeisters of' all stripes. The fact that the real estate market is cyclical is NOT new information. The way I’ve heard some of the talking heads speak, you'd think Chicken Little was right! I'm here to tell you that the sky is not going to fall when the market softens and prices stop rising by double digits year after year.
A RECENT news article mentioned the early 1990's, when "home prices dropped 22%. What the article failed to mention is that those same homes
have appreciated more than a HUNDRED percent since then! The only folks who lost money on the market downturn were those who "sold short" for one reason or another. Those who stayed the course are doing just fine, thank you!
As Lodi Association of Realtors President Randy Snider was quoted last week, we live in the second- most-affordable area in the entire state! I recently heard Michael Zagaris, Broker Owner of PMZ Real Estate, talk about the future of our Valley. His take: Over the long term, the Central Valley is one of the best places to invest in real estate. The restrictions
on new-home building compounded by the influx of newcomers means a continued shortage of housing, which will keep real estate values strong in the decades to come. China's emergence as a world economic power is causing industries that deal with Pacific Rim countries to migrate to the west coast (nearer to their Asian clients). Our area is the logical (affordable) destination of choice.
BOTTOM LINE: If you own Central Valley real estate, you're In the right place at the right time! Don’t let the naysayers get you down. Ask 'em, "If
so smart, why ain't you rich?"
WORD PICTURE: If you were to graph Valley real estate values over many decades, it would look like a wazy staircase: An upswing followed by a flattening out or even a decline in values, followed by another strong upswing, and so on. The important thing to note is that the trend is ever upward! When the soft market comes, stay the course! Good times will return.
MY LISTING at 33 Goshawk Court in lovely Wallace Lake Estates is still very much on the market! Priced right at $519,950, this 2215-square-foothome is only one year old! Upscale features throughout: Central vac system! Beautiful travertine flooring! Plantation shutters! Classy kitchen! Three-car garage! All of this and more in a gated community with top-of-the-hill views! Call me for a private showing.
NIBBLES already on 653 Sandpiper Circle! I'm Not surprised. At $399,950 for 1715 square feet of two-story three-bedroom two and a half bath home, this one will go quickly!
Another great value: 2177 Eaton Drivel 3000Square feet! FIVE bedrooms! THREE baths! THREE car garage! Upscale filtered above-groundPOOL! $579,950 if you hurry!
THANK YOU to all who have helped make the first five months of 2005 so GREAT! Many of YOU are the reason for my success! You are appreciated. Have a happy week! See you next Sat.
STATESMAN REALTY
(209) 333-2380
Website: www.LarrySellsLodi.com
Website: www.larryunderhill.com
Email: Larry@LarryUnderhill.com
posted by Larry Underhill at 17:56
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