This site has recommended buying US real estate since 2009.
In 2009 an article pointed out that there were about 10 million properties for sale and that the US needed 1.7 million new homes a year so we should expect a return to higher prices in five to six years i.e. 2014.
The warmup has begun. A March 11, 2013 USA Today article “Prices are up, but homes are in short supply by Julie Schmit” says: The supply of homes for sale has been shrinking for six months and shows no improvement so far in January — a bad sign for buyers.
Listings of existing homes for sale were down 14% year-over-year in the first two weeks of January, according to Realtor.com, which tracks 146 markets nationwide.
In Phoenix, where prices were up 24% in November from a year earlier, new listings through the first three weeks of January hit their lowest level in 13 years, says Mike Orr, real estate expert at the W.P. Carey School of Business at Arizona State University.
That’s bad news for buyers, and it means “prices need to go up more” to bring more sellers to market, Orr says.
As house prices rise watch for a shift to Smalltown USA. Modern communications technology changes utilities of property so people can live away from the city and still work and be engaged.
Plus country living is becoming fashionable. One never wants to invest in fashion because fashion reduces value. However small town living is still in before the fashion stage.
A great Country Living article entitled “25 Reasons Country Is Chic Right Now” says: We’ve never doubted country’s cool quotient, but suddenly everybody else seems to have gotten the memo, from hip designers to famous chefs. So we figured it was high time to salute the people, places, and products redefining rustic today.
Country Living article “A Rock Star Who Practices What He Preaches”
Dave Matthews serves on Farm Aid’s board — and lives out its MO on 1,000-plus acres. In 2002, seven years after playing his first Farm Aid benefit, Matthews bought a vast spread in Scottsville, Virginia, then safeguarded it against future development with a conservation easement.
Now an organic farm — which donates 25 percent of each harvest to area soup kitchens and food banks — those 1,261 acres comprise only part of the picture. Ten miles away, the musician grows grapes, bottling them into an astonishingly good, affordable chardonnay.
I expect real estate prices to rise especially in small town USA. This is one reason last week we looked at another organic winery in smalltown usa… The New River Winery near our farm is for sale.
New River Winery, Ashe County’s first and only winery, is for sale. The winery, located on the campus of the Old Lansing School, was established seven years ago by a group of investors with ties to Ashe County who were interested in promoting tourism and agriculture in the area. Over the years, the winery has established a reputation for fine wine, a welcoming patio bar, a local music venue, and place to hang out and have a great time.
Lansing Old School.
Visit Ashe Cunty North Carolina. Immerse yourself in Smalltown USA at our June 14-15-16 Writers Camp.