by Buz Wolfe

When it comes to real estate, “EVERYONE IS AN EXPERT”.  Trust me on this one.

I do a great deal of industry related reading and research.  For the most part, this is to keep me current with trends in the industry and to assure that my company is complying with all the appropriate rules and regulations.  Seldom, however, do I bother to read about what the “experts” think.

One recent exception was an article in the Sunday Patriot News by Terry Savage of the Savage Truth.  She lists a number of things that should be considered before purchasing a home and states that “If you plan realistically, your home could be your best investment, especially with low mortgage rates.”

Ms. Savage does go on to make two points with which I completely agree.  In fact, I have made both of them many, many times in the past.

First, your home is your residence not a trading investment .  While real estate has traditionally been an excellent investment and the largest savings investment for most Americans, this point should not be lost.

Number two, the family home is not a liquid asset.   See above.

There are, however, many additional benefits to home ownership.  These include property tax deductions, mortgage interest deductions, closing cost deductions (Pennsylvania has among the lowest mortgage closing costs in the Nation according to, home office deductions, Energy Star deductions, and property sale deductions.

It is true that your home should not be a “piggy bank” and that there is more to life than making house payments.  Still, as we have seen time and time again, the single family home remains most Americans best and most significant investment.  With property values returning to 2005-6 levels, inventory at appropriate levels, and mortgage interest rates still at historic lows, now is the time to “start up”, “trade up”, or “downsize”.




*Ray L. “Buz” Wolfe, CRS has been Broker/Owner of his own firm since 1986.  In 2014, he was again the Carlisle Area’s Top Producing Broker with $10,000,000 in settled transactions.

**All information believed to be accurate but not guaranteed.