State of Real Estate- My own address
AsÂ I head into June, having barely survived a wild and furious May and April, I find it best to first look back before turningÂ my attention to the future to come. First of all, I am confident that 2009 was an abberation and not the norm to come (partially because I couldn't make it through another discouragement like that again)! 2010 had started off much like the previous 12Â months but as the snow melted and the sun came out so did the buyers. Whether it was time to buy due to interest rates, tax credits, or just because they needed a house to live in I am not sure, but I suspect it was a combination of the three and other market conditions.
As buyers scrambled to get an accepted offer before the end of April deadline and sellers and agents responded in kind to sell them, for the first time that I can remember there actually seemed to be a shortage of listings to look at...a big change from years before when you could easily show
50-100 listings and never see everything. Those offers turned into closings for May, and even a few trickling into June. Now that the credit has ended and the final paperwork is changing hands, the question becomes...NOW WHAT?
My answer is, I don't quite know! I think I have a wait and see attitude about where the market will go from here, but for the first time in what seems like forever the mood seems optimistic, some even say positive! There have been numerous changes in the banking and lending industries, with some congressional urging to get things moving. As the economy improves, the interest rates could come up which will temper buying slightly depending on how much the numbers climb. As long as employment numbers continue to rise and rates don't skyrocket, I see a steady if not slow rise in real estate prices and a sunny outlook for buyers and sellers! Just one man's opinion...