So do you want to hear some good news with terms you might not understand or even care about? I mean really, we as a culture thrive on bad news (of course we do or else their would not be any bad news on the news channels every single night/hour/minute)...it's sad when you think about, quite the paradox since our desire is for good news, yet we focus and intensley want to hear bad news. But, maybe you will read this seemingly good news (maybe i will throw in some bad just to keep your attention).
According to NAR, FHFA, and Haver analytics when analyzing the top 5 and bottom 5 markets, real estate is still a healthy long term investment. Like its always been, the next 5 years gains little or actually some depreciation (bottom markets). But at the 10, 15 and 20 marks appreication ranges from 10,000-80,000 and in the top 5 markets 100,000-480,000 in appreciation. I like those odds...
Since Jan of this year, 2009 our PHSI has had an upward trend and currently sits at 84.6 (meaning, pending home sales have had an upward trned, more pendings, for past 3 months). Existing home sales climbed in both Jan, and Feb this year but had a dip in March...though these are national stats and we all should know, REAL ESTATE IS LOCAL! For instance our sales data in north myrtle beach area has been trending up since Jan ever so slightly. A business confidence graph in REALTOR Mag shows from NAR all categories in upward motion (Seller Traffic, 6 month expectation, current conditions, and Buyer Traffic) Seller traffic is level for the first quarter of 2009 with Buyer Traffic and 6-month expectation sharply rising since Dec 08.
Bad news...we may be in for an inflation battle..and we all can see it. We can't have that much money from the government pumped into the system and not expect reaction from the economy. It needs to be evened out and watched or else a repeat of 70's 80's interest rates hikes may be on the horizon making the situation even worse for potential home buyers. In our economy inflation has just as much negative effects and deflation, so we must be careful (there is your doom and gloom for this blog, hope it helped)
Either way, the present is always the safest bet and right now buying a home has all the perfect stars in alignment...prices, interest rate, and inventory selection...why wait, call Eagle Realty in myrtle beach today!!