According to a new Rasmussen Report, 86 percent of adults say they have “a lot” to be thankful for this Thanksgiving. Of the remaining 14 percent, 10 percent say they “do not have a lot to be thankful for” and 4 percent are thankful to varying lesser degrees. In sum: the majority of Americans appear to be heartily thankful this year, which could mean that the odds are good you do not really need this report[1]. However, just in case you are in that foundering 14 percent – or if you are in the 86 percent but only because you left your real estate investing sentiments out of the picture – here are five real-estate related reasons to be thankful this year:

1.     Median home prices could be on the rise

Thanks to buyer skittishness about short sales and distressed properties, conventional home-sellers could finally catch a break and sell slightly above rock-bottom. While overall median home prices are still hovering near the bottom and fluctuating wildly depending on location, traditional home-sellers are experiencing slight rises in prices and more than three-quarters of all buyers would rather buy a house from an owner-occupant with a regular listing than look at distressed properties. This also means that the deals on those distressed properties are only going to get better, which is good news for real estate investors looking to get involved in 2011.

2.     If you own farmland, then your property values are skyrocketing

Farmland in the upper Midwest is skyrocketing in value, leading some to actually express concern about a “bubble” unique to farm properties[2]. Lenders are happily loaning (and getting paid) on this low-risk property and the values continue to climb as “projected increases in farm income” are released by analysts. Loans on the land are being paid in a timely fashion, and nonfarm investor interest is spiking as well.

3.     Foreclosures are feeding a “cottage industry”

When things get really terrible, the real estate investors and other participants in the real estate market are making hay where they can by improving their local situations. In states like Florida where foreclosures have been rampant for the past year, a “cottage industry” has sprung up around moving those properties through the market[3]. “Real estate agents had homes to sell, landscapers and plumbers had work to do, and furniture stores and restaurants benefitted too,” reported the Amarillo Globe News. Sure, Foreclosure-Gate may have put a damper on this, but with the shadow inventory looming, many real estate participants are gearing up for a busy 2011 making that inventory disappear.

4.      Housing affordability is on the rise

If you want to buy a house or get involved in real estate investing, then now is the time. Interest rates are at record lows; there is a massive inventory to choose from, and sellers are more interested in creative financing than ever because of harsh competition when it comes to selling properties. In fact, according to the National Association of Home Builders – Wells Fargo Index, 71.1% of all homes sold in the country during the third quarter of 2010 were “affordable” on the nation’s median income[4]. While interest rates are expected to rise in 2011, affordability should remain high as well.

5.     Hardest Hit States are Showing Job Market Gains…

And that is good news for real estate. All the experts agree that a true real estate recovery hinges on a recovery in employment, and with Nevada and Michigan joining 39 other states posting declines in unemployment last month – Nevada showed the first improvement in five years! – “the economic downturn [could be] loosening its grip”[5]. Anthony Chan, JP Morgan Private Wealth Management’s chief economist, warns that the mission is not yet accomplished, but he did admit that “these numbers suggest we’ve stabilized and started to show real improvement.”

So more jobs, great deals on real estate, some real estate shooting up so fast economists are actually worried about a bubble (who thought we’d hear that this year?)…There is definitely a lot to be thankful for. Factor in friends, family and living in the greatest nation in the world, and it’s no wonder that the vast majority of us are downright ecstatic – or at least enthusiastic – today. Happy Thanksgiving, folks! May it be your best one yet.

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[1]http://www.rasmussenreports.com/public_content/lifestyle/holidays/november_2010/54_regard_thanksgiving_as_one_of_the_most_important_holidays
[2] http://www.wisconsinagconnection.com/story-state.php?Id=1385&yr=2010
[3]http://amarillo.com/news/business/2010-11-24/where-fewer-foreclosures-are-now-bad-business
[4] http://www.housingpredictor.com/affordability-best.html
[5]http://www.google.com/hostednews/ap/article/ALeqM5jIrfbZQYpe8V1Q7EE9C0iVdnc_mg?docId=f372966265684f5eaa4251c5d3ca5f75