09/11/2026
Don't Let Fear Drive Your Homebuying Decision!
This will be a somewhat lengthy post, but it should add some much needed perspective to anyone who fears buying a home right now due the prospect of the home value declining.
I've been in this industry for 35 years. My mother was a realtor for 15+ years before that. In all of that time, there were some corrections in home prices from time to time but just like the stock market, values consistently trended up. The only exception to this was the market crash in 2007/2008.
Here is the perspective part. In 2006, I bought my home for $360,000. By 2008, that home was worth around $240,000. Bad decision right?
Not if you add some perspective.
The home is now worth $425,000. Granted, over 20 years that is not a high rate of appreciation, but it is still appreciation. And, considering I purchased the home at the worst possible time in history, that is not bad.
But, let's look at the mortgage piece. With 5% down and 5.75% rate the $342,000 loan would now have a balance of $181,000 assuming I did not refinance when the rates dropped to 2.25%. So now, that bad home purchase has $244,000 in equity.
Rent at that time was around $1,200 for a comparable sized home. Today, rent would be around $2,200. Equity...0
Owning a home is and always has been one of the best investments one can make in their lifetime. Don't let fear keep you on the sidelines.
If you are thinking of buying a home in the next twelve months, now is the perfect time to call my 24/7 Pre-Qual Hotline (703-997-2368) to see what you can afford. No pressure, No obligation.
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