Why Buy Now?
Despite the steady drumbeat of doom and gloom financial stories coming out of the national news media, there are several reasons why there may not be a better time in the next twenty years to buy a home in Shelter Island. Are you curious?
1. Low interest rates Interest rates are near 30 year lows. A lower rate means that you can obtain more home for the same payment.
2. Steady or rising prices Home prices in Shelter Island generally continued to rise or at least hold steady throughout this mortgage crisis. Falling home prices have occurred mainly in areas of California, Florida, and Las Vegas, Nevada, because those were the areas where the speculating, during the "bubble", was most feverish. The Shelter Island area has been a model of stability throughout this period. If you live in the Shelter Island area and you're waiting for prices to fall, you may never buy a home.
3. Affordability Shelter Island is one of the most luxurious areas near a major metropolitan in the country to live. Put simply: you get more for your money here than you would virtually anywhere else in the nation, while still being able to live in or near a major city.
4. Stable Economy The economy in New York is comparatively strong, and Shelter Island is one of the main reasons. A strong economy means people need to find homes for their families to live in, so they can work in the area. People wanting to buy homes translates into a vibrant market where prices move up. Shelter Island offers the getaway of a lifetime.
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