How is the Market?

Many times recently we have been asked “How is the Market?” In a nutshell: The last 3 months have been good, the market still has a backlog of buyers and sellers. Expect very soon that ‘short sales’ and ‘foreclosures’ will again pick up steam and maintain a portion of the selling inventory.
Interest Rates may go up but expect them to still be low by historic comparison.

The seller’s deal is still a condition/preparation strategy. Our opinion is the market is slightly recovering but no significant avg. price change upwards is expected for 3 years. We may have as good a market/interest rates/competitive window as we will see in that time.

For the buyer’s deal, we see a continually good environment; a closing window on the $8,000 cash first time home buyer’s incentive; low interest rates and good inventory exist. There is however more competition for good homes and the seller’s know this – killer deals are fewer.

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