For those of you that have read my Active Rain Featured article Some Positive News For the Real Estate Industry, you know that I think spreading positive news about the real estate market (when it comes around) is a necessary thing to do. With all the negative news in the media, it is nice to pay attention to the positive real estate news and share THAT with your customers as well.
The most recent issue of Realtor® magazine had a great article entitled "A Year of Repair, Then a Year of Growth". I've been hearing speculation from various people in the industry (lenders, Realtors, economists, etc.) that interest rates are going to be back up after the election (they are already on the rise if you've been paying attention) and that home prices and sales may stabilize and even begin to rise again.
Written by Lawrence Yun, who is the cheif economist for the National Association of Realtors®, the article highlights several key points affecting the direction of the market:
- Home sales have stabilized and are expected to increase meausurably in the rest of 2008.
- The subprime lending crisis is almost past and we are heading towards recovery.
- The current annualized sales pace is the lowest in 10 years (buyers wake up! The world is your oyster and it is time to buy while it is YOUR market!).
- Prices are expected to improve and start heading toward increasing in certain areas.
Buyers, I can't stress enough to you the opportunities you have at your fingertips right now. Don't kick yourself later when you realize you could have bought real estate at ridiculously low prices in a buyers market. The "buy low, sell high" rule cannot be emphasized any more here.
If you're a buyer interested in the Gainesville, FL real estate market, please contact me and I'd be happy to show you some of the opportunities available to you! Sellers, please contact me for a free market analysis and to get the FACTS about our relatively stable real estate market! Prices have come down, but our market is still going strong.
Angela Elliott is a licensed Florida REALTOR® with Century 21 Classic Properties in Gainesville, FL. Please visit my profile for more about me and browse my Gainesville, FL real estate website for additional Alachua County information and listings. Your phone calls are always welcome at (352) 256-7038 as are your e-mails to firstname.lastname@example.org. A portion of all my closed sales will be donated to the Alachua Co. Humane Society (View my mission statement).