Easter Sunday

The Christian tradition of celebrating the Resurrection of Jesus Christ is closely related with many other traditions & events. The name “Easter” may have originated with Ostra or Eastre, mythological goddesses or spring and fertility in Europe, whose festival was celebrated on the vernal equinox.

The vernal equinox or the day when night & day have equal length figures in the day Easter is celebrated; the 1st Sunday after the first full moon after the vernal equinox. Which is why Easter is always on a different date.

Easter has parallels in Jewish Tradition – Passover; and in pagan traditions of spring fertility rites. It also has figured in historical events; the Irish “Easter Rebellion” – an unsuccessful attempt to overthrow the English rule of Ireland (I’m Irish).

In today’s real estate world, it’s worth considering this concept. The news is full of articles about foreclosures, sub-prime loans, failing financial institutions and the like. It is important to remember Ben Franklin’s adage, “It’s an ill wind that blows no one good…

The fall in home prices and the ongoing affordability of home financing is bringing great opportunity to future homebuyers and real estate investors. People locked out of the real estate market because of high prices or the lack of inventory are now finding tremendous opportunity in today’s market. Some La Crescenta home values are reminiscent of prices prior to 2005. Interest rates may very well drop to the low 5% range. In our area, the increase in the FHA & Conforming Loan rates will also expand home availability.

It’s easy to focus on the negative. There is a lot of pain & suffering involved in the foreclosure & short sale process.

Overlooking the joy that comes from a family or individual finally getting a home of their choice is a mistake. Home ownership creates the homebuyers financial future. It is a source of stability, it’s a great long term investment & it opens financial opportunity in the future. Home ownership has made many a child’s education possible; it has created the financial opportunity for many a start-up business.

And, of course, it is a home.

Happy Easter