Hi all!

I was looking at the Wall Street Journal for some information on the Housing Market as a whole today, and maybe to use for my blog and found out something interesting. One article from the WSJ I was sent last week said that the housing crisis nationwide is over. That April IS the bottom. This doesn't mean we're going to see values return to the boom levels of 2005, or even that they will begin rising soon. The builders have slowed down their building, so housing starts are lower than they have been in years.

Then I went to the same paper today and it states that the market is still declining nationwide, except for some pockets here and there. It's amazing how the story changes from day to day. But then that's the news.

So what does all this mean? In Valerie's opinion, we are in a normal market. While we had a big boom of 2005...that boom and fall is 3 years old. Real Estate has seen double-digit interest rates in the 80's, and people bought and sold houses regularly then. Interest rates are 1/2 to 1/3 what they were then, they've remained steady for the last few years, but how long will that continue? With interest rates in the 6% range, it's still a good time to buy. At least you know more will be going towards equity than for the interest than in the 80's timeframe!

So, if you have to move from one region to another due to a job transfer, how do you determine where within that area to buy your new home? Or would it be better to rent? That depends on your situation. If you are there for the short term--2 years or less, you may want to consider renting. Longer than that, buying may be an option, but of course, you need to do your homework. There is a lot of information on the internet to research the area, the schools, activities you prefer, and how long you prefer for your commute to and from your job. With gas prices, it's time to think about maybe paying a little more money for a house closer to work instead of your gas tank eating up the money.

Even if you don't have children, areas with good school districts have housing with better market and resale values, so that is something to consider. Also, just because your current commute where you live is only 30 minutes for a 30-mile drive, doesn't mean that's the way it will be in your new area, so make sure you ask someone at your new job, or your realtor if you are working with one, about traffic and commuting if that is a concern for you.

For example, in Fort Walton Beach, Florida, between Eglin AFB, and Hurlburt Field, from just about anywhere in Fort Walton Beach, you can get to either base in about 20 minutes at the most (depending on traffic). For those stationed at either base, they live anywhere from on the bases themselves, to Fort Walton Beach, Navarre, Gulf Breeze, Pensacola, Crestview, Holt, Baker, Defuniak Springs, and Freeport all climbing to an hour commute, sometimes more. As with anything, you have to decide if the commute is worth the house. If you've checked out the schools for your children if you have any, the house itself, the neighboring communities, and your new neighbors, jobs for those in the house that will be commuting and their commute time.

There are a lot of factors to consider--while the news stories paint a pretty picture one day, and then the next say we are still spiraling, the decision to "wait it out" is not always the best decision or option. While everyone wants to get a good deal when buying their new home, it's not only about the price of the house, it's the condition, the size, how it makes you feel being there, and in the neighborhood. This is a place you'll be building memories for just a few years, or maybe a lot of years to come. Memories your children will have the rest of their lives.

Gauging the value of a home is not always just about the price, but what you will get out of it as well.