Dawna is a real pro! I am so glad she was on our team. For nearly four years she guided us through the volatility of the San Luis Obispo housing market, answering our questions from a far (we live in Montana) and flagging appropriate properties or developments along the way. When the timing was right and we found just what we were looking for, Dawna expertly guided us through the negotiations and inspections. This wasn't our first home buying experience, but we really appreciated how easy Dawna and her assistant made the whole process. We successfully closed in less than 30 days.
- It’s a great education.Owning real estate, based on our experience, prepares young people for life and business better than anything else! There are valuable social implications, economic implications, and risk evaluations that affect their future and the future of others. If they do not have a downpayment, they have the opportunity to learn about partnerships, which gives others the opportunity to gain from assisting them in their financial success.
- Youth have time to build equity. By starting in their 20s, they would have a 30-year mortgage paid off in their 50s or so. And still have more living to do! In addition to equity buildup, they are also hedging themselves in long-term wealth building with likely increases in real estate values. Over the past 30 years in California, property values have multiplied 5 times.
- Interest rates are low. Todays rates for Owner-Occupied financing are very low. There was a day when rates were more than 16%! For the average college students, having cash flow is important. With low interest expense, they will have more cash available to improve their property and for living expenses.
- They can control their own housing. No rental applications to complete, no landlord to call before a plumbing repair, no threat of a lease expiring or a landlord selling, and nowhere to go after a 12-month lease.
- Success can start early. We understand that there are friends and family members that may have had experiences with market slumps. Fear of financial ruin has kept some from encouraging loved ones buy property. Advise them to talk to a real estate advisor with successful personal real estate experience. Encourage them to use a combination of optimism and good analysis, and START LOOKING!