PENNIES FOR YOUR HOUSING THOUGHTS
She shook the jar, “shing shing shooka shooka shing shing,” as she ran around the living room. This six year old took youthful energy to a new level. As she ran shaking the noisy jar full of pennies her mother looked pensive and ready to bite her nails but it was not because of her daughter’s explosion of energy. Her father was looking impatient and annoyed. His gaze went from his daughter to a brochure he was holding and back to his realtor. His realtor read his look and called the girl back over. “That’s enough shaking Julia. Thank you. You’re doing a terrific job! Want to help with the last step?” He asked with enthusiasm. Placing the jar on the table and unscrewing the lid she reached in. Both her parents were intently watching her. Julia held up a penny victoriously. “Is that the one?” He asked. “No,” she said and put it on the table. “Keep trying,” He said, she drew out 12 more pennies and placed them on the table. Then she heard her older sister calling her from the back yard. “I can’t find it,” she said looking at her mom. “Go ahead and play with your sister,” said her mom.
“Your daughter just demonstrated my point nicely,” said the realtor. “The penny that your daughter marked represents the next home owner in this area who is going to loose their house to foreclosure. Currently, the ratio is about 1 in 100 houses per year and that’s in these difficult times. In normal times the ratio is much lower. The important point is that the other 99 pennies or homeowners will build tremendous equity in their homes in the next 5 - 10 years. Can you afford to stay out to the jar?”
They stood in a 4 bedroom house at the end of a cul-de-sac that was alive with the happy noises of children playing. It was a typical day in Foothill Ranch. The family had come out looking for real estate deals with their realtor because kids need a stable place to grow up and roots in a community are important for families.
Don’t give up on the American dream.
Get Foothill Ranch and Irvine California real estate info at http://www.fredcurrie.com/index.html