Not to steal Obama's thunder, but the spring market is definitely here. I have seen increased activity, and so have my associates in the Remax office I work out of in the Bethesda area. Many of us are very busy. Too busy to eat......busy. Like we like it.....busy. Boy did we miss this......busy. God, I hope it continues....busy. In short the market has picked up. I had four listings as of March 1. Two are under contract as of the last 10 days and I got 2 calls on one of the others and 1 call on the last one today. I might have 3 under contract in 12 days if I can believe one of the agents that called today. Now I am wondering what I am going to do when these sell. What a nice thought. Thank God I have good buyers. We have had such a tough time since Fannie Mae said "no stated loans" in August 07. The market was flat throughout the fall. It picked up for me December 26, believe it or not. I started getting calls. I had 13 listings at the time.
There are alot of reasons to hope. Yes, there is uncertainty in the economy. Today the Fed lowered the key rate 3/4 of a point causing a 420 pt jump in the Dow. Omigod. I hope it doesn't all go away tomorrow. But I digress. The government seems to be trying to play catchup and prevent the dip in the economy from going any further. Interest rates continue to be low. This morning a lender I talked with said he could have locked a buyer of mine in at 5.5. The buyer balked and the rate went up to 5.87. Oooops. There is without a doubt, more interest in the buyers out there to go out and write. I have 4 on the edge of the process. We had such a while where the buyers had no confidence. Not that we blame them. So take heart warriors of the MLS. We will enjoy this while it lasts. Via con Dios.