Tuesday, June 22, 2010

Adversity Can Create Opportunity

As Charles Dickens began in the Tale of Two Cities, “IT WAS the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way-”.

Boy does that sound familiar for our current times. For too many, these “times” over last several years have been difficult. Too many jobs lost jobs. Too many savings and retirement accounts diminished. Too many companies out of business. The economic devastation has hit most everyone in some way or another.

I was on a Southwest fight once where the steward began the familiar “please be careful when opening the overhead bins because shift happens”. For better or for worse, real estate cycles happen too. And when it does, it all comes down on top of us too. Unfortunately, the more extreme the cycles are, the more speculation there is. That is where people get hurt. The wheeler and dealers help to fuel the market along with those that are just trying to buy a nice decent home to live, raise a family, retire, or perhaps enjoy a second home in a different climate. It is hard to know when to jump in the game and the fear of loss helps let our emotions get the best of us.

Usually buying and holding allow people to wait out a cycle. But with lost income, the bills can pile up even with a financial safety net. For some it is just the duration of the downturn that has become the problem; they could have ridden out six or even nine months, but not years.
For those not deeply hurt by financial troubles, these can be “the best of times” to invest in a home with rock bottom prices and interest rates at still once in a lifetime levels. It can be “the age of wisdom” for those who have been cautious and can now perhaps take advantage of good buys in good neighborhoods. We all know the time is right to buy, but we also know we need to be more prudent in our approach to investing in a new home.

We continue to see many buyers who have been waiting for the right opportunity to get into the housing market, back into the market, or to buy a second home that may have been unattainable at peak prices. For them it is better to buy in a period of low prices rather than sitting and waiting for the absolute lowest price. History may prove their wisdom.
As housing continues to rebuild the momentum lost, we encourage those on the sidelines to carefully consider the options and how investing in a home now in a Jensen community may be right for you. Our staff is ready and willing to listen to your Great Recession story and hopefully be able to offer some suggestions for a more carefree and enjoyable lifestyle.

Jensen is now able to do this in New York State as well with the addition of “Cherrywood” in New Hartford NY to our family of communities. Visit or call 315-793-8900 for more information.

We look forward to hearing from you at one of our 29 East Coast locations. Call 800-458-6832.