Apply lessons of 'Rocky' to real estate
By Louise Bolger
sun staff writer
I did something on Christmas Day this year Ive never
done before I went to the movies. It was a family event
engineered by the younger generation successfully convincing
the family elders there was plenty of time between Christmas
brunch and Christmas dinner to catch a show. The movie chosen
was "Rocky Balboa," hopefully the last in the seemingly
unending series of "Rocky" movies. As usual, Rocky
is the underdog who fights through the pain to stay in the
game. It got me thinking.
The real estate game is currently down for the count; I figure
were about midway in the countdown. When and if we get
up from the mat is still to be determined.
But we can all learn a lesson from Rocky Balboa. Theres
more in life than winning (Believe me, Im not giving
away the movie). Its how you play the game and its
making the right choices.
The real estate market has been very, very, very good to anyone
who has held real estate during the past five years, and even
if your net worth may be slightly down from this time last
year, youre probably worth a lot more than five years
ago. In addition, interest rates are still incredibly low
for the most part staying below six percent for a 30-year,
Mortgage interest is still the best tax deduction most people
will ever have, and for the tax year 2007, interest on private
mortgage insurance will for the first time be deductible helping
a good percentage of first time buyers get into the market.
If youre a buyer, the opportunities are endless. Between
high inventories, low interest rates and a good percentage
of motivated sellers, your dream of a beach cottage could
finally come true. Besides, how bad can things be if the stock
market hasnt been spooked by the downturn in the real
Even the weather cooperated this year with no hurricanes,
and it appears that our legislators in Tallahassee are finally
at least starting to work on the states insurance problems.
Commencing last week, Florida lawmakers are having serious
conversations in an effort to find a lasting solution to our
insurance and reinsurance crisis.
Not to mention that the number of cars clogging Gulf Drive
and Publixs parking lot have increased substantially
since the first of the year. Am I being a cockeyed optimist,
or is all of this good news?
And lets not forget the primary reason we own our own
houses. Its to provide a home to live in, not necessarily
one to invest in. The American dream of home ownership has
come full circle in the last three decades from a place in
which to live peacefully and raise a family to a source of
funding for college educations and retirement. Perhaps we
need to get back to why this country has more individual homeowners
than any where else in the world.
Lets keep our priorities in order. Things really arent
that bad. Take a tip from the ever cheerful champ and remember
whats important in life. As Rocky says, "The heart
is the last thing to age."
Probably right after your air conditioner.