Hello All!

Well it is 2010 and there is a new feeling in the market…I can already feel the activity picking up.  Buyers are looking and sellers are thinking about coming on the market earlier in the year then what is the “norm”.  Waiting until after the superbowl use to be when everyone would wait to bring out their new listings but this year it’s different, there is a real electricity in the market.  I am not going to sit here and tell you that prices are going to start going up but what I do believe transactions are going to go up and there will be a continued shortage of inventory, especially of quality inventory.

It is going to be interesting what values do when inventory has sold off dramatically and there are a lot of motivated buyers out there.  What is important is to hope that sellers realize that the market is still down and that pricing the property right is still critical!

One thing to watch in the beach area is to see what happens with new homes and homes that are only a few years old.  There have been very few “lots” sold in the last year and half and almost all of the “new construction” inventory has been completely sold off.  What is that going to do to the Tree Section (MB) or the Hill Section (MB)????

If I am a buyer I am motivated to buy something this year for two reasons:
1) prices are low and we have seemed to hit a bottom ( as well as the stock market seems to be holding strong above DOW 10,000).
2) Interest rates, there is no where to go but up! Even if prices come down further rates are going to go up and that will make your payments go up.

If I am a seller I am motivated to sell for two reasons:
1) Its a great time to trade up your property.  Even if your property is not worth what it use to be, neither is the bigger house, or the neighborhood you want to get into.  If you are realistic with the price of your current house and your finances allow you to move and improve your home situation, I feel now is the time.
2) Buyers are out there and they have never been more qualified!  There are a lot of Cash buyers out there as well as large down payment buyers qualified through large tough banks.  This allows sellers to sell their home ( assuming its price right) and move on to do what ever it is they want.

LOOK OUT FOR MY NEW AND IMPROVED BLOG COMING SOON WITH MORE POSTS AND VIDEO POSTS ABOUT THE MARKET PLACE!

This entry was posted on Monday, January 11th, 2010 at 9:54 pm and is filed under MARKET UPDATE. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.