Depending on which news channel you turn to these days, you'll hear good news, and bad news, about the real estate outlook.
Probably the most upbeat forecast of all the real estate news circulating these days comes from the country's top group of forecasters, the National Association of Business Economists, which has a great track record in predicting trends and market turns. After its latest survey of members released recently, the association said the following: "The good news is that the deep and long recession appears to be over, and with improving credit markets, the U.S. economy can return to solid growth next year without worrying about inflation."
The consensus forecast from the business economists is for the Gross Domestic Product, GDP, that's the main measure of the economy's output and activity — to grow by 2.9 percent, and for new housing starts to jump by an impressive 38 percent.
That is good news because home resales tend to be closely tied in with GDP: If the overall economy is flush and growing, that supports higher home purchases and sales.
The big negative everywhere is jobs. The recession may be ending in some areas, but not in job losses, with unemployment currently hovering right at the 10 percent level, which is a big factor holding back the real estate housing recovery.
The biggest plus for housing right now is the continued low interest rates, and the first time buyer tax credit still in existence for a few more weeks, unless it is extended by Congress, which is what many in the real estate sector are crying for to keep the uptrend from stalling out.
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Best Buyer’s Broker Realty is an Exclusive Buyer Agent specializing in Long Island real estate (Nassau and Suffolk properties) and neighboring Queens County properties.
We don’t take any seller listings (yet we have more homes for you to see than most agents) and never have any potential conflict of interest like other agents who also represent sellers. We represent buyers only, 100% of the time. We can show you more homes for sale because we have access to MLS, FSBOs, Exclusives (homes that agents try to keep secret), foreclosures and homes not on the market that may be of interest to you.
We are not your traditional real estate agent. Our goal is to advise and protect home buyers and help them obtain the lowest price and best terms on their dream home. Call us at 516-887-6901 to see how we can help you save time and money. Or visit our sites at http://bestbuyersbroker.com or http://bestbuyerbroker.com.
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