Maybe this is true. Maybe I made this up because I’m a St. Louis Cardinals fan. We will never know. What I do know is the Cubs haven’t won a World Series since 1908. That’s 108 years ago. You know what else has happened in the last 108 years? A lot. To get specific, pricing has gone up over the last 108 years. I know what you’re saying, “Luke, that’s ridiculous. You can’t prove that!” Watch me(well technically, read…me). Cell phones, for instance, cost $800 today. In 1908 we didn’t even have phones(not true, but adds dramatic affect). The average price of a car today is just over $33,000. In 1908, the Ford Model T was introduced at a price of $850. The average home price was about $5,000 in 1908 compared to now, $353,600. See how I looped all this back to real estate?
Real estate today is much different than it was the last time the Cubs held any relevance in the baseball world. With the last 10 years being fresh on everyones minds, severe pricing spikes and drops are always the topic of conversation. But fortunately, what we’re seeing over the last 3-4 years has been a good thing. Steady growth followed by steady decline followed by steady growth…and so on. It’s healthy for a market to slowly transition from a buyers market to a sellers market.
All that said, interest rates are still at historic lows. Right now is the time to buy. The question is, where to buy and what to buy.
Where to buy: Honestly, if you’re a traditional homeowner you can buy anywhere in SD. Buying for the long term with such low rates is absolutely the best strategy right now. Whether you’re buying a traditional home for yourself or a multi family investment, plan on buying to hold for many years to come.
What to buy: Buy yourself a home/condo to live in. Then buy yourself an investment. Then buy another one. And another one. And plan on holding them for many years to come.
At The Middleton Group, we specialize in helping you buy for the future. With investment at the top of our minds, we make sure you find a home you’ll fall in love with but is also a good investment for today and generations to come. We accomplish this through a few avenues. Wealth Mgmt, Renovations, and Market expertise.
Wealth Mgmt: We meet with you, your family and our wealth management team. We discuss your short and long term financial goals and how real estate fits into that mold. Then we buy/sell accordingly.
Renovation: We help you renovate to sell OR after you purchase. We walk you through a plan, pricing and timeline. We’ll give you projections on costs and after repair value to ensure a renovation is worth it. Then we act as project manager to ensure the project is on time and on budget. We make this process as fun as we can trying to tap into our inner Chip & Joanna Gaines.
Expertise: We’ve worked with hundreds of buyers and sellers over the years. If you simply want to buy or sell, we know everything there is to know about both sides of a transaction. From pricing strategies and negotiation tactics to sell a home for the highest price to finding off market homes at great prices for our buyers. We are experts in our field and I promise you it will show up in your bank account when we’re finished.
If you would like to use any of our real estate services, please reach out to Luke Middleton at 858.228.7204 or Luke@MiddletonGroupSD.com. You can also reach out to any of our team experts as well, Kelly Johnson, Rob Donahue, Paola Middleton or Karly Chavez. I’ll let you guess what their emails are…(hint: first name).