Well as any Real Estate agent, company or office will tell you 2007 was a rough year. Sales were down, companies went under and foreclosures hit a high. As the year changed however, agents across the bored noticed some changes too. Showings were up, and the good deals were going VERY QUICK.
Properties that have been sitting on the market for months on end all of a sudden disappeared into Pending. Great news for sellers, but not so much for buyers. Buyers have been taking the home search at such a leisurely pace the past 8 months that they forgot one simple fact: a good deal is a good deal in any market. Buyers who may have been able to think about that perfect home for three weeks while they looked at others are now once again finding themselves having to make quick decisions.
Now I’m not saying that we are going back to the days of 2004 and 2005 by any means, but the buying public has definitely woke up. They realize that it isn’t going to get much better than this, and with the interest rate drops at the turn of the year some deals are just to good to pass up.
2008 does promise to bring many challenges, as inventory levels are still high and foreclosures and pre-foreclosures saturate the market. But all in all, things are headed toward brighter days!
Thoughts and comments always welcome!
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