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Where is the market going from here?

By
Real Estate Broker/Owner with RE/MAX on the Bay

Hi Everyone,

 

You have to wonder what is going to happen to the real estate market in our area.  With foreclosures abound and fuel prices skyrocketing what is going to happen??  I will share my view with you....

I think we are getting close to the peak of the foreclosure market in our area.  While it will take a while to work through the inventory of vacant homes for sale, I am seeing a lot of new buyers get into the game and are seriously looking for homes or investments at good prices.  I think they are smart shoppers and are aware that the cost of energy is going to put pressure on inflation and mortgage rates are going to rise soon.  I think the people that buy in the 2nd half of 2008 are going to look back in a couple of years and be pleased with their decision to buy.

Comments (3)

Heather the Realtor Orlando, Lake Mary
LemonTree Realty - Orlando, FL
First Time Home Buyers, Bank Owned Homes

Yes it's not a buyers market unless you are buying. I agree i think we have more foreclosures and issues to arise but then it will just take a little time to get the market back

 

Jun 30, 2008 09:50 AM
Vicky Chrisner
Fieldstone Real Estate - Leesburg, VA
Jun 30, 2008 09:56 AM
Fernando Herboso - Associate Broker MD, & VA
Maxus Realty Group of Samson Properties - Clarksburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

specially if they are buying close to major transportation service, like metro railways

Jun 30, 2008 09:57 AM