Economists Predict This Spring Will Be the Time to Buy Your Next Home!
An article published from the Wall Street Journal is “strongly” suggesting this coming Spring 2011 will be the season to invest in the real estate market. With home loan interest rates falling to as low as 4% in recent weeks, the concern of the buyer is will rates increase if I don’t act now? Couple this with a surge of great deals on all different kinds of real estate, including new homes, previously-owned homes, and REO foreclosure homes. Sellers are more eager to sell because sales are so far down that they are forced to be more realistic about how much money they’re going to get. And according to the WSJ article, economists still expect the number of distressed homes to rise as well. This is great news for the buyer looking to purchase a cheap house to use as his/her primary residence.
Now for the million dollar question…considering all the negative economic news and talk of the pending double dip occurring, does the buyer take a chance to buy foreclosed property to rent out or resell in the future? What do you think?
We saw a slight uptick here in Western MA in home sales this spring but nothing too dramatic.
Maybe spring of 2012 will be better and bring in more buyers.
Bill and I at The Smart Solutions Team have experienced an upswing in our local Ohio market. Mild winter weather and continuing low interest rates seem to be encouraging buyers to take the plunge.
The Minnesota Real Estate market is RED HOT! Listings down 27% and pending sales up 22% from a year ago are creating a shortage of homes available. Homes that were on the market for a year are being snapped up at near list price. Multiple offers, full price cash offers on retail homes and robust market activity at all levels of the market are creating a strong sellers market! This might be the time to buy, for some, but it is definitely the time to sell! SELLERS MARKET!