Seen on The KCM Blog earlier this month, an article was featured solicting the advice of former Goldman Sachs investment banker John R Talbott, who predicted the impending burst of the real estate bubble as early as 2006. According to the article, his current adivce for those in the real estate market is: now is the time to buy!!
In congruence with Talbott's advice, the Post & Courier headlined an article on January 12, declaring December 2011 the best month in home sales that the tri-county area has seen in 5 years. Early reports slated 785 closings this past December, a 15% increase from December 2010. While volume was up, prices were not, with a 3% overall decline in homes prices in the year 2011. Much of this is due to foreclosures and short sales, as well as competition from new construction, leading sellers to lower the prices of their homes. Thus reinforcing the notion: now is the time to buy!!
The Cassina Group's December statistics certainly attest to this notion, with 16.5 closings in December 2011.
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