I thought I would followup my last remarks on the state of the economy with some interesting local information. As you can tell from my previous comments, I am not a fan of the national statistics. They are what they are, but in most cases we both could use the same statistics to support our points of view – even though we are on opposite sides of an argument. So, instead of statistics, let me share what I see going on in my local area (remember – real estate is very local).
During the past 60 – 90 days I have seen an increase in activity. More buyers are buying. This is a good sign. I know some of you are thinking “that’s because of the $8,000 tax credit for first time home buyers. That maybe part of it but if you want to believe the exit polls – four out of five first time home buyers would have bought anyway; even without the tax credit. Another plus for the market is the inventory is shrinking – not as many homes on the market as there were four months ago. The third big plus is that the movement is in all price ranges – not just the entry-level homes. Does this mean we have reached the bottom of the slide? I can’t say that for sure, but a lot of people are realizing that this is the time to buy if they want to take advantage of the present market. There are too many unknowns out there to forecast this marks the upturn in the real estate market, but in my area the signs are positive. As the holidays approach I hope this trend continues throughout our nation and we move forward. I think this would be a great Christmas present for all of us.
Instead of a quote this time, how about a riddle? In many liquor stores you can buy pear brandy with an actual pear inside the bottle. The pear is whole and ripe, and the bottle is genuine; it hasn’t been cut open in any way. How did the pear get inside the bottle? If you think you have the answer, contact me. Phone: 630-420-1300 or email: skip@juckins.com .
“Til next time………..
