Wow! We were doing so great in 2008 with home sales. Buyers were ready and willing with not only cash on hand, but solid financing. I actually was beginning to see some hope in our future economy. It appeared as though sales were increasing, prices of homes were solid and life was going to be up and positive.
Things changed quickly in 2009. We have seen a lack of new properties on the market, which is causing a entirely new problem in our home sales market place. Yes, buyers are still ready with cash and solid financing. No, we don't have the homes to sale. Yes, we are experiencing mutiple offers again, and a sense of frustration that can't be overlooked. Both Realtor's and buyers are on the receiving end of some financial decisions from the Federal and State governements. The stimulus package offered to all sorts of businesses has helped those companies stay afloat. What happened to the stimulus package to help move our properties? Yes, REO's, sad as it is, was beginning to stimulate our Real Estate Industry. Move up buyers, first time home buyers, investors were all bringing in solid cash to create a sense of a solid market. However, due to the government moratorium we have found a lack of homes to sale and a STUNTED market! Buyers are ready. Let's get some homes on the market to sale.