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 Lake Vermilion Real Estate

A daily journal concerning Lake Vermilion and surrounding areas.
Selected real estate, notes, stories, musings, and anecdotes.

March 4, 2003

The future.

There seems to be a certain, “Let’s wait and see what the future holds.” attitude in the air these days. There are obvious reasons for such hesitant anticipation and it’s tough not to buy into that frame of mind. But we don’t have to abandon an optimistic outlook.

As far as the real estate business goes, I would offer the following thoughts:

Our collective mindset will adjust to the new concerns the world has put before us and when it does the general economy will rebound with enthusiasm.

Local real estate values are and will continue to be stable, especially lakeshore and rural values.

Local real estate values will again see upward pressure.

Interest rates are low and probably not going to go much lower. (Local rates include a 15 year fixed mortgage @ 4 3/4%)

Real estate remains the investment your family can enjoy as it appreciates.

Yogi Berra was quoted, of course, on the subject and maybe he had it right,

“The future ain’t what it used to be.”

We better get used to it.

Here is a postscript on the subject: I stumbled on a website for the “Institute for the Future”. There claimed membership list includes the likes of Coca Cola, Ford Motor Company, Nokia, Stanford University, among others. The one current and very curious announcement on the “Institute for the Future’s” web page is the one that reads,

“IFTF Announces the Fall Conference, November 4-6, 2002”.

I did not make that up.

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