We’ve had eight years of slow movement in our market, but at some time that will go up. History has proven this trend.
This late in October marks an important anniversary in the history of our market. 30 years ago, on October 19th, Black Monday happened.
Why do I mention this? At that time, I had a lot of customers telling me they couldn’t take money out of the stock market to buy a lake home because they were doing so well in the stock market. After Black Monday, the real estate market in this area took off and stayed extremely strong for quite a few years after that.
Today, I’m having the same conversation with customers looking at lake properties. They’re saying that they haven’t appreciated in the last eight years, and they’re wondering why they should take money out of the stock market that’s doing so well.
Well, I’m telling you history will repeat itself. This market will change and the stock market will correct itself. I’ve had customers already tell me they’re going to move some money into tangible assets like real estate. We’ve had eight years of slow movement, so at some point in time that will go up, and it’s always nice to buy at the bottom of the market.
If you have any more questions about our market or you’re thinking about buying or selling lake property in our area, don’t hesitate to reach out to me. I’d be glad to help you.