Real Estate Is a Solid Long-Term Investment
 

The news media is all abuzz these days with information about the real estate market. But if you rely on national news stories to tell you whether now is a good time to buy or sell, you may be missing a great opportunity.

Every market is different. The national housing forecast is no more useful than a national weather forecast. It’s important to consult with a REALTOR® to get accurate local market information.

Homeownership is how many American families begin to accumulate wealth.

- Given the leverage in purchasing a home, the average return on a 5 percent down payment over 10 years is usually three to five times greater than stock market returns.

- If you bought a house 10 years ago, it would be worth almost 27 percent more today.

- Real estate has delivered the best return of any investment over the last 40 years.

- The typical homeowner’s net worth ($205,200) was 49 times that of the typical renter ($4,200) in 2008, according to National Association of REALTORS® calculations using statistics from the Federal Reserve Board.

Illinois REALTORS® are working in several ways to help you understand conditions in your local market and take advantage of the opportunities to invest in real estate.

- REALTORS® provide consumers with the latest information on home sales and prices and what factors are likely to drive the market in the months and years ahead;

- REALTORS® can help educate prospective homebuyers about the various loan products available to them; and

- REALTORS® are working with lawmakers to provide more affordable financing options that will enable homebuyers and homeowners to keep their homes for the long term.