year end numbers 2010

"The only thing we learn from history is that we learn nothing from history."

-Friedrich Hegel quotes (German Philosopher (1770-1831)

Thought that the quote above might be appropriate to real estate market of 2011. Looking forward into the murky crystal ball from 2010 to the 2011 market, my belief is I am glad I live in the Yellowstone valley, yet I will not expect to much to change. During the years of craziness in the real estate market in the nation when I talked to persons thinking of investing in the Yellowstone County I would tell them that it would do several thing for them. #1 it would protect their capital #2 it would give them a return on that capital #3 the market was slow and steady. The market has produced that in spades in Yellowstone County, as a contrast from Las Vegas which  has gone from an average sales price of approximately $335,000 for a sales price of a home at the peak, to November of 2010 of approximately $127,000.

The 2010 market had the tax credit for everyone , historically low interest rates  and Yellowstone county ended up with about 14% fewer sales than 2009. That result would not be what one would have expected standing on the precipice of January 2009 where everyone was sure the world economy was to collapse, caution was the word of the day and ugliness in the news carried the thought home. The 2011 real market in Yellowstone county will proceed with caution and people will buy and sell homes, make long term investments in real estate and will be well reward for those decisions.

The best comment I will relate to 2011 people way over estimate what can be accomplished in a year and way underestimate what can be done in five years. Have a great day , have great year and have a great life!!!!!!!!!!!!!!!!