What's Up? (Or Down)

The question I get asked as a real estate agent over and over is; “What's the market like in Artesia these days?” The second most asked question is; “Where is the market going in the next few years?” If I knew the answer to both of those questions, I could make a killing in the coming years. The problem is that I don't know where the market is going. If anybody tells you they do – run away. They are about to give you an opinion, and then probably ask for your money based on that opinion.

Given that the nation as a whole, and certain areas, in particular, have seen dramatic decline in property values over the last couple of years, Artesia has been relatively unscathed. However; we have seen our own property value “recession” lately and it is unpleasant. While our home values have not suffered the break-neck plummeting which has been seen in some areas, there has been a softening of the market and it's prices here in Titletown. As to the reasons for the pull-back in home values, I can only give my educated opinion – there it is again – that word.

The good news is that it seems that prices have stabilized and that activity is picking up. Real estate will always be a place where Americans want to place their money and trust. It may never be the short path to riches that we were lead to believe throughout much of this decade, but it's still a tangible asset with real potential for growth.

More than that, real estate is the dream of home ownership for most Americans and Artesians. Young couples and families dream of having a place of their own someday and that will never change. It's why I chose to make it my career in this great city. I am optimistic about the future of Artesia. That's why the new planned housing development on 26^th street across from Walmart is, in my opinion, a positive sign.

Trilogy Homes http://artesianewhomes.com/ celebrated the opening of their sales office with a ribbon-cutting and groundbreaking ceremony on Friday October 15. The first phase of the three-phase development is called “Traditions.” These are entry level, semi-custom homes. I am hopeful for the success of this venture. The success of this venture is hopeful for Artesia.

Agree?  Disagree?  I want to hear from you either way.   Add a comment or send me an email and let me know what you think. I look forward to musing on all things real estate in Artesia.

Scott Takacs – All real estate. All the time.