It's Correct-There's No Place Like Home!

A home is a place to put down roots, settle into a community, enjoy neighbors and most importantly create lasting memories with your family. (Ok-we hope some of those memories from when your kids are teenagers won’t last) 

For a longtime we expected too much financial gain from our home purchases.   Purchasing a home should be thought of as an investment in your family and community not your portfolio.

We have been confused by the idea that a house is a financial investment and that somehow it should be worth much more when you sell it than when you bought it.  In our local market place home values are equal to around what they were in 2000-2001.

As painful as this real estate downturn has been for so many, we needed the correction in the market place.  Imagine if prices had continued to soar at the rate that they were from 2000-2006.  By the time some of our children tried to buy a house the average sale prices in Winnetka, Glencoe or anywhere on the North Shore could have been something like $5,000,000 or more.  That’s scary. Even scarier is that if our kids wanted to raise their families in the area they probably would never be able to afford a local home of their own.  Maybe they would want to move back in with Mom and Dad!

Please feel free to contact me at smolitor@koenigstrey.com with any comments or questions.