Friday, October 15, 2021

Still the American Dream



Despite attacks by critics in recent months on the value of home ownership and whether it’s still the American Dream, the idea of home continues to resonate with a majority of people from all walks of life. For proof, look no further than the Country Music Awards.

Country singer Miranda Lambert’s song “The House that Built Me” won the award for Single of the Year. A sample of the lyrics reinforces the importance of home:

Mama cut out pictures of houses for you/ From Better Homes and Gardens magazine/ Plans were drawn and concrete poured/ Nail by nail and board by board/ Daddy gave life to mama’s dream.

For many people, owning a home is much more than just a financial decision – it’s a place where they build families, memories and futures.

Ask a homeowner what they enjoy most about owning their home and the likely response is, “It’s mine.” That feeling of autonomy is a driving force behind purchasing real estate and extends into the homeowner’s community.

According to Susan Ackerson, 2010 President, Marco Island Area Association of Realtors®, Marco Island statistics show that owning property on Marco Island continues to be the American dream. For Marco Island only properties, all property types, the Marco Multi-List shows an increase of pending properties September 2010 to October 2010 of 10.53% while at the same time the inventory level remained essentially the same. Median sales price for single family closed homes increased 9.37% during this same time period.

The condo market during the September to October 2010 time frame has really increased. Closed sales increased by 6.67% while the average sale price jumped 95.31%. The median sales price jumped by 26.92%.

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