Every Monday I send out statistics on my blog and on Facebook. More and more people are contacting me and are wondering about the Real Estate market - what do I think? Do I think it's starting to turn around?
U.S. Federal Reserve Chief Ben Bernanke, speaking at the Brookings Institution yesterday said during a Q&A that the recession is "very likely" over, and that the "recovery is likely to be relatively slow at first", and ending his prepared remarks with "although we have avoided the worst, difficult challenges still lie ahead".
What I have been seeing in the Real Estate Market mirrors what Mr. Bernanke is saying: I've been seeing a lot more activity and calls from buyers in recent weeks. I've actually had competing offers on a property, a situation I have not seen in a couple of years. . Though activity has increased, we're not in for a steady climb right back up - the turn around in the Real Estate Market is likely to be slow going.
It does seem to me like we're at "the bottom", and that a slow come-back is starting. Fortunately, in Howard County, people will always be motivated by location (location, location). We are very fortunate to have a solid foundation, in that our area provides plenty of government jobs for both the Baltimore and the Washington DC areas. We also have the added benefit of a great school system.
What's your opinion?
Tim McIntyre, GRI
tmcintyre@cbmove.com
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Visit my website at www.timsellshomes.com.
Ellicott City Realtor, Catonsville Realtor serving Howard County, Carroll County and Baltimore County for more than 25 years.
Hi Tim, Was hoping for more press coverage of his " good news " ! Certainly looks like the more savvy buyers are climbing down off the fence. Good selling to you !
I agree about the goods news. I guess people aren't ready to buy it. Others I have talked to are very pessimistic and seem to be waiting for another shoe to drop. (Indusrty folks) I hope you got the email from NAR about extending the first time buyer credit past November. It has had a positve results in my area. We need them! Thanks for the feedback