Homebuyers Still Following the American Dream
Because of the extensive work that the company does to support the needs of homebuyers, the professionals at Local Records Office (LRO) are well aware of the strength of the American Dream. While the idea of an all-encompassing American Dream has had numerous definitions over the years, the involvement of home ownership has remained common among them all. According to an article published by Gallup, “Americans’ dream of owning a home is alive and well, evidenced by the fact that most Americans own a home and plan to continue to do so (56 percent), or don’t own a home but plan on buying one in the next 10 years (25 percent). “The professionals at Local Records Office, in a recent press statement, explaining why home ownership is so important within today’s market and urge homebuyers to call upon the resources at their disposal to ensure that they are making an educated decision with regarding to the property that they purchase.
What is The American Dream?
The idea of an American Dream goes back decades, but it is one conjures images of a white picket fence in the suburbs, a mortgage and a place to call one’s own. While different versions of this concept have proven more or less popular over the years, the idea of owning a home is one that has appealing to Americans for countless generations. Before the recession, loans and other financial resources were available to assist individuals in purchasing properties-making homeownership easier than it had ever been before. But when the housing bubble burst and the recession struck homeowners found it increasingly difficult to hold onto the properties that they had procured. Foreclosures hit records highs and those individuals who did not own a home could not afford to invest in one as the economy tanked.
But now that the economy is the recovery process and the housing market has, in many ways, rebounded, individuals are once again starting to make homeownership a reality. The professionals at Local Records Office assert that interest rates and property values have made it easier for individuals to become homeowners-particularly after property values plummeted during the recession. Now that the market is once again stable and inflated property prices are, more or less, under control, individuals can again start to consider how homeowners would prove beneficial both practically and financially.
The article reports: “Overall, while 62 percent of the American population currently owns a home, a considerably larger 81 percent own a home and express a desire to continue to do so, or don’t own a home but express a desire to buy one within the next 10 years. These results certainly suggest that the “American Dream” of owning a home is very much alive, and that the real estate industry should expect a continuing demand for homeownership in the years ahead.”
One of the factors that are strongly influencing the rate of homeownership is the attitude of the upcoming generation. According to the Article, 70 percent of Americans in the age range of 18 to 29 do not own a home now, but have made plans to purchase one in the next decade. Additionally, 21 percent of these Americans have already invested in their own property. This leaves just 9 percent of the population between the ages 18 and 29 that do not anticipate owning a home in the next 10 years.
Another factor that the article cites as having an effect on homeownership rates is income. The article highlights the facts that the higher the income bracket the larger the number of homeowners; however, this does not necessarily that individuals in the lower income brackets have given up on the dream of homeownership. According to the article, 40percent of Americans who make less than $20,000 per year are panning to purchase a home in the next decade. American Dream.
While the idea of buying a house is certainly an exciting one, the professionals at Local Records Office remind individuals that the actuals process of choosing and purchasing a house can become quite stressful. With a wide range of options (including countless available properties, multiple financing alternatives, numerous communities, etc.) homebuyers may quickly find themselves overwhelmed. If they are forced to make a decision in such a state of mind, the professionals assert, they may very well make the wrong one.
Avoid errors with Local Records Office and the real American Dream
To avoid such an error, the representatives at Local Records Office encourage homebuyers to take advantage of the resources that are their disposal when they are making the decision whether or not to make an offer on a certain property. First and foremost, the company encourages calling upon its professionals to access a report regarding the property and surrounding community. By doing so, homebuyers can get a clearer picture of not only the value of the property in which they are interested but the lifestyle that they will enjoy when they move into the neighborhood.
In addition to utilizing a customized report, the professionals at Local Records Office urge homebuyers to talk to other residents of the neighborhood about the community and the pros and cons of the area. Furthermore, homebuyers who have kids are encourage to visit the local schools to determine if they offer the high quality educational opportunities that their children deserve. Finally, partnering with an experienced and qualified real estate professional is a wonderful way for homeowners to cut down on the stress they experience and access the information they need when purchasing a property. Local Records Office knows about the American Dream.