Well I am here to report that things may be changing already in our market. When listening to Mr. Keller speak a few weeks back, he expressed that he felt we would be in for a slow or stagnant 2008, with recovery starting in 2009. In the past couple of weeks, I have been working with some out of town investors, attempting to purchase a few investment properties (this is my specialty, since I also have a property management company under my brokers license that is not affiliated with Keller-Williams). I am here to tell you that there ARE buyers in the market! Every one of five properties that we were making offers on, had multiple buyers making offers on them, many ABOVE full price. That really doesn's sound like a buyer's market to me. In fact, this blog entry is written to note that I am seeing STRONG trending towards another shift back towards a seller's market.
So why am I making this point? If you read my blog or my websites, I hope to get your attention that the picnic may soon be over. If you are needing to upsizew, downsize, buy and investment, buy your college student a condo, etc., take my advice and move quickly. If rates move up much more, things will stagnate probably, but why take that risk? Higher rates will simply limit your buying options now and in the future. If rates slide back down, I suspect that we are heading back into a sellers market, where prices will start back up again. Call my office to get us started on your next real estate purchase today. There may never be a better time!