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« previous: no demand for supply. are developers taking notice?   |  next: happy (square) feet »

Thursday, November 23, 2006

thanksgiving for the memories

Mom's househeadroomI insisted that my three siblings and their families have Thanksgiving at our Mom's house this year. It will be our last one at this humble little home. Like many seniors she decided that downsizing into a new condo made sense, I was supportive of her doing it too. For my five year old, grandma's house will become a distant memory of childhood. She insisted on sleeping over there the night before to help with the turkey (we got the night off). That's the stuff that makes any home priceless.

We can get so wrapped up in property valuations and the direction of the marketplace, that it's easy to loose sight of some of the most basic reasons as to why we buy them in the first place. I'm thankful for what it represents and given to our family. In 1960 it was purchased by the emigrant and native-born members of two family generations, becoming the incubator for two more since; and the most tangible evidence of their progress in the new world. It has reminded me once again about how intertwined our homes are, with our psychological and financial well being.

For my Mom, it's providing retirement security from an investment, which after 46 years increased in value 3340%! Mom found a nice new condo in her neighborhood, and bought it. I've vicariously played the role of broker and principal this year on the buying and selling side of her transactions. Trust me, I could go on about that too, but suffice it to say that it's been a reminder of what my clients experience really feels like. Happily, they trusted me with over 200% more business this year. I'm thankful to them too today!

I'm taking a little time off until Sunday. Happy Thanksgiving!

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