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HOME SALES HEADING UP AT THE BEGINNING OF 2008

By
Real Estate Agent with RE/MAX Signature

While Washington's real estate market remained steady in 2007, the rest of the nation experienced shifting home values.   "While the sub-prime mortgage crisis caused news reporters to shout "the sky is falling" from coast-to-coast, the truth is that 2007 was, for the most part, a year of national market adjustment.  Some areas were hit hard while others increased in value." says Denise Lones of The Lones Group in Bellingham, WA.

Here is the good news we have ahead.  The National Association of Realtors (NAR) recently published statictics showing that as 2007 came to an end, real estate sales began to trend upward-and are projected to continue in 2008.

What does this mean for you?  "The biggest impact we should see in 2008 will be all the "fence-sitters" from 2007 getting back into the market.  These were people who-understandably so-were afraid to list their homes for sale or look for new ones because of 2007's media-generated atmosphere of insecurity.  But now that the sub-prime crisis of 2007 is truly over and sales are again rising, it's becoming obvious that people are figuring out that there was no "bubble burst" or "market crash"." says Denise Lones.

In 2007, they took a small part of what was happening in the real estate industry and blew it up so that everybody thought they needed to hunker down and wait until the smoke cleared.

Such warnings never came to be.  There was no bubble burst or crash.  If anything, the national market just took a breather and reorganized itself for what will be a great year to come.

2008 is going to be a great year to buy and sell homes.

Want more details, including NAR data and how it relates to your specific neighborhood?  Then, just give me a call at (206) 999-9629 or drop me an e-mail at sarah.l.lee@verizon.net.  I'll be happy to talk shop without any strings.  I'm your local source of real estate information, even if you're not planning to move for a year or two.  Let me educate you about the best options for you in the upcoming boom year of 2008.

Comments (2)

Atlanta's Home Inspector, David Lelak IHI Home Inspections
IHI Home Inspections 404-788-2581 - Canton, GA
Experience the IHI Difference

Hi Sarah - Just wanted to stop by and say welcome to Active Rain, it's a great place to be.  There is all kinds of groups and technical info here on the rain.  I have found the search button very helpful. 

 

 

Feb 13, 2008 03:12 AM
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hi Sarah,

Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to ya!

-Keith

Feb 13, 2008 03:16 PM