Get Ready to Buy or Sell in 2008!!!

There is a saying that things are never as good as you hear and things are never as bad as you hear. The real estate market is like that today in our area. As the New Year is upon us, we find a rare opportunity available to us. The current market reminds us of the 1989-1991 market – we haven’t experienced conditions similar to these in over 17 years! I say similar because we have a tremendous advantage in today’s market…historically low interest rates. In our region we have a stabilized housing market in many areas. Yes, there are areas that are less fortunate than others but in many areas we are close to the bottom or already seeing an upswing in prices making it an ideal time to buy whether you are looking to move up, purchase for the first time, or invest. There are good values, tax benefits, pride of ownership, lifestyle stability, and potential for equity gains are a few of the advantages of home ownership. In addition to these positive attributes, we have already seen an increase in activity, interest rates continue to decline and people in our area have been waiting on the sidelines long enough. They are ready to commit! Historically in our area over the past 30 years, we have averaged over 6% appreciation per year. We have been in a “down” market for nearly 3 years which means we are poised for an upswing. All of the fundamentals are in place to make 2008 a great year for buying and selling real estate!