Real Estate - January 2012 Real Estate Values have fallen during the past three years. If I had told someone that in 2007, they would have thought I was wrong. The days of guaranteed appreciation are behind us. Values will recover. Hopefully in the next three years, but it may take five. Nobody knows. But, more importantly, what do we do NOW? It is more important than ever to own real estate that fits your financial budget. You need to know what to expect in terms of necessary mantainence, and be prepared for those unexpected expenses that MOST properties will incur. As the past four years have shown...value go up; and values go down.  Owning real estate is not a "liquid" investment. It is a long term (15 years) asset that you may need 3-5 years to sell at a gain, or break even. Values go up, values go down. Due to factors out of our control. This is the valuable lesson to remember. What can we do now? Mortgage interest rates are at an historic low. Under 4% for a 15 year loan. REFINANCE! Contact your lender, or contact me, and refinance while you havce the opportunity. It's money in your pocket... for the next 15 years!  Values will rebound when the economy improves. Owning a home is the best and safest wealth building strategy available. Ownership is not a quick fix to financial problems, or necessarily a way to put children through college. Finding the right property requires analysis, experience and work. Don't gamble; hire a professional.