With all the talk about our soft market and declined sales many forget the silver lining in this cloud. We have reached the bottom folks and the savvy investor would be looking around at the tremendous bargains around him/ her. Here on the cape the prices have dropped dramatically but will climb equally as dramatically. For the first time a first time homeowner can actually afford to buy a home here on the cape. The speculators have all but dried up it seems and the first rays of sun can finally be seen. This is the time for that wary buyer to crawl out from under that rock!
SDW Realty of Cape Cod - Falmouth, MA
Matthew real estate is cyclical and I think you are right. Prices will go up again in the near future when inventory drops. (Suply and Demand) Its a buyer's market and many buyers already know this and have bought now that we are near bottom!
Jul 02, 2008 07:46 AM
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!
Great advice!
I think secondary home markets (which is where I am, and maybe it's a bit the same on your coast??) often show uptake faster than primary residence areas.
Just my thought!
Li
Jul 02, 2008 07:55 AM
eXp Realty - Alexandria Township, NJ
NJ Estates and Stables
Hey there....nice to see you post a blog...now gain those points and move up in the world! Have a great 4th!
Jul 03, 2008 01:11 PM
Dunhill Group - Osterville, MA
Matt I think you are right on with your assessment of where the market is on the Cape. It will be interesting to find out how the rising interest rates will effect the buyer mentality. I hope it puts a little urgency back in buyers instead of forcing the home prices even lower which it might.
Ted
Jul 07, 2008 05:49 AM
Keller Williams Cape Cod and the Islands - Falmouth, MA
I hope that you are right but I met with some savy businessmen today who cooled my optimism just a bit. Keep an eye on banks and any steps the government takes to back their loans to consumers. Further tightening of mortgage requirements and/or higher interest rates could slow things down considerably.
Jul 07, 2008 03:20 PM
Comments(5)