For Lewiston real estate investors (BTW, that includes homeowners and soon-to-be homeowners of all stripes), there’s some long wished-for news: the solid reputation of real estate as an investment is back! After years of falling off, the latest Gallup poll on the economy and personal finance finds that Americans are now convinced that their best long term investment is in the housing market. Real estate won out against all other alternatives: bonds, gold, stocks, mutual funds and CDs.
For the past few years, gold had been investment #1—but see-sawing gold price movements have whiplashed public sentiment. Just as takes place everywhere in the nation, whenever Lewiston’s real estate market improves, so does its reception by potential buyers who view their home as a savings vehicle as well as a place to hang their hat. As Gallup Economy’s headline put it, Americans Sold on Real Estate as Best Long-Term Investment.
Public sentiment by itself is, of course, not reason enough to change long-term investment strategies. But when any investment class is on the rise in public’s estimation, the effect is to create competition among buyers—and further price improvement often follows. It can make a difference when it comes to Lewiston real estate.
One possibility for those selling real estate in Lewiston this summer might be to consider capitalizing on the investment trend by including a marketing approach: one that targets investors. You can have your agent or a local property manager provide a rental evaluation for the property, along with approximate leasing fees and property management fees. Having such an evaluation at the ready lets investment-minded prospects evaluate the potential cash flow and return. It’s even possible to post the information on your sales website, and to display it along with other marketing materials at showings and open houses.
In many neighborhoods, Lewiston real estate prices have a lot further to go to near their previous high water marks; if you look at neighborhoods individually, you can find some plum opportunities to make a sound investment. If you are thinking of buying or selling in Lewiston this summer, contact us to discuss your ideas—and how you will make the most of America’s new Number One investment opportunity!