October 9th, 2008 
Maricel Ferrer-Custodio 
Gone are the days of rising home values and easy mortgage. Most real estate news is about the doom and gloom of falling house prices, foreclosures and mortgage stress.
However, in reality it does not affect everyone. The general morale of the real estate sector may be down, but if you’re not financially struggling then there really is nothing to worry.
The decline in home prices will only be greatly felt by those:
1) who want to tap on their home equity to travel or renovate their house
2) those who want to sell because they need the money to retire
3) those who are selling because they cannot afford to maintain their mortgage payments
If you don’t fall in any of these categories then don’t let the real estate gloom affect you. Think of your home as a long-term investment.
If you have the money to invest, look for opportunities in the market. In fact, that’s what Warren Buffet is doing right now. You can read more about it in these articles “Warren Buffet to invest $6bn in Goldman Sachs“ and “Buffett’s company to buy $3B of GE preferred stock“.
Instead of losing faith, why don’t you focus your energies and thoughts on more positive things? If you’re not planning to sell your home anytime soon and you don’t have enough money to go on vacation because of the tough times…why don’t you redecorate your home to look like your favorite resort? In fact according to this news report, more and more Australians are converting their homes to look like a five-star resort.
I personally think it is a good idea. Nothing beats coming home everyday to a relaxing environment. It is like switching off the stress, once you enter your own resort-style abode. It is a bonus for the kids too!
Photo: www.flickr.com by decor8 and www.frontgate.com
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