Why the big spick in 07? What caused this? Do you expect housing values to contiue up and how fast for the next 5 years?

Asked by Jr, 75703 Sun Aug 29, 2010

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Angela Hill’s answer
Angela Hill, Agent, Bullard, TX
Mon Aug 30, 2010
Personally I didn't feel it was that big a spike. It was however a seller's market which will always up property value's. Its all about that old supply and demand thing. We definitely are behind the rest of the nation as whole. Now is a great time to buy but as far as speculating about appreciation...that's almost impossible to do. Real estate is the still the safest investment you can make. Perfect exacmple...Marion Davies invested heavily in real estate and when William Randolph Hearst wound up in a financial bind she sold property to bail him out! That's pretty good odds if you ask me.

Good luck and if you have any other questions, don't hesitate to ask.
Web Reference:  http://www.angelakhill.com
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Debbie Ezzell, Agent, Tyler, TX
Mon Aug 30, 2010
Jr, 2007 was a better time for sure when it comes to houseing markets. A great source for economic and housing information in Texas is the Real Estate Center at Texas A & M University. They have a great website at http://(www.recenter.tamu.edu) there are many reports, forecasts and trends that might help you with this. They also have some national information if you are living in a different area than Texas. Hope this helps you, there are no cut and dry answers to why our economy does what it does. After 30 years in this industry I do know that change comes both good and bad, but real estate is still the best investment you can make in any economic trend.
Web Reference:  http://www.recenter.tamu.edu
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