Spring/ Summer 2011 Local Market Update

By
Real Estate Agent with RE/MAX Realty Brokers, Inc.

Since early January of this year, we have seen activity in the local market pick up dramatically. The last quarter of 2010 is one of the slowest markets we have personally experienced.  Showings were slow, phone calls and internet activity were few and far between, and the market in general just felt sluggish. The traditional "sweet spot" for the real estate market is usually March - June in any given year. We have seen this trend year in and year out except for the times when the government was offering substantial tax credits for purchasing a home by a certain date. It appears that no more tax credits will be forthcoming and it is back to business as usual. The proverbial "dark cloud" of 2010 seems to, for the most part, have lifted and some confidence has been injected back into the hearts and minds of the buyers and investors so far this year. I have never been busier than I have been in the last two months. First time homebuyers and investors are battling for the best deals. New foreclosure listings have slowed enough to where the competition for landing a winning bid has grown fierce. Even the remodeled "flip" homes and competitively priced owner occupied homes are starting to see increased viewings and sometimes even multiple offers. Chances are, if you have the best priced home in your neighborhood, you've done the work to get it show ready, and you have a top notch marketing plan in place with one of your areas best real estate teams (insert shameless plug for The Carnes-Hyatt Group here)....your home will sell in any market. We are looking forward to a very busy and prosperous  Spring. This year looks promising not only to buy, but to get your existing home on the market. Prices have stabilized over the last twelve months and, while we probably won't see any dramatic increases in value over the next couple of years, now seems to be a great time to get your home sold and move up into the home of your dreams for a substantial discount. Please feel free to call or email me anytime with any questions and, as always, your referrals are greatly appreciated.

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