Well may we ask given the economic roller coaster ride we’re all currently on. One thing is coming through strong and clear though– people are still buying property!
With one proviso however, at or very close to market value!
In our agency alone we have written eight contracts since August 19 with more currently under negotiation. Whilst buyer enquiry is thinner, the buyers out there are “real buyers”.
Why is this so?
I believe it’s because property purchased and owned in the right area is recognised as one of the safest investments in the world, and in times of uncertainty owning real estate is very reassuring.
Our agency site at 200 Main Street Montville was originally offered to me in 1989, and rather laughingly now, I refused the offer because the site was too far out of town!
It actually was in those days with the sum total of businesses in Montville then numbering just 18! (Now 96!)
The important point I’m leading to is that from the original offer to purchase our office site in 1989 to our eventual purchase in 2008, the property value went up by a factor of seven!
Certainly property values can go down and certainly do in highly stressed areas, but even in those areas, when viewed in the form of a graph over time, the overall trend is always up!
In very good areas it’s almost continually up with the worst result a limited or no gain period rather than a fall in price! (Similar to what the Range experienced through the bulk of the nineties).
In my 21 years in Range real estate I have seen very few forced or uncomfortable sale situations and I believe the Range is one of the safest areas to invest in.
This is especially so with more and more middle, upper income and seriously wealthy people ever increasingly being attracted to and purchasing on the Range.
So now, we not only have the topographic, scenic, climactic and geographic position advantages we’ve always enjoyed, we also have the benefit of wealth, and with wealth comes economic stability and much less chance of negative real estate volatility.
If the world economic situation concerns you, and you have the capacity to do so, consider very seriously purchasing property on the beautiful Blackall Range.
Leave a Reply