GO BEARS!
As the Superbowl season is upon us, coinciding with the beginning of the Spring real estate market, all I have to say is, "Go, Bears!"
To borrow a name from the stock market, we in real estate have heard from more than our share of bears for the past year or so. Despite all evidence to the contrary, predictions from "experts" across the country have heralded the decline of real estate values and sent buyers into a world of unrealistic expectations and sellers into a deep funk. I don't even want to say what these scurrilous rumors have done to brokers. Suffice it to say that it's been a bit depressing, even for the most level-headed among us. We have to go to parties and look at people and answer the question, "How's the market?"
Why all this misery? Employment is up, interest rates (the most influential factor in real estate prices with supply and demand) are stable, and demand continues to grow. Besides, real estate is a local business, and national statistics rarely apply to any local market. I guess bad news sells, and it was just our turn as an industry. At last, we seem to have gotten it out of our systems. Government predictions have come out for an improved market in 2007, with rising prices expected in the second half of the year.
Daily Real Estate News January 25, 2007Analysis: Housing Activity to Pick Up SoonThe U.S. Congressional Budget Office analysis released Wednesday was relatively optimistic about the immediate future of the housing market.But before the market improves, the analysis says spending on housing will decrease through the first half of 2007 and, on average, prices for homes will also decline in the same time period. However, the agency expects both sales and home prices to edge up in the second half of the year and it projects that residential construction will pick up as well.Source: Reuters News (01/24/07)
Whatever. I say, go Bears! Go very far away. Stop predicting what the real estate market will do, and just observe what it has done: Provided shelter in every sense of the word, and appreciation, and a return of and on investment. (Maybe some of these doomsayers would like to dump their house at a fire sale price? Please call me for a free market analysis!)
To borrow a name from the stock market, we in real estate have heard from more than our share of bears for the past year or so. Despite all evidence to the contrary, predictions from "experts" across the country have heralded the decline of real estate values and sent buyers into a world of unrealistic expectations and sellers into a deep funk. I don't even want to say what these scurrilous rumors have done to brokers. Suffice it to say that it's been a bit depressing, even for the most level-headed among us. We have to go to parties and look at people and answer the question, "How's the market?"
Why all this misery? Employment is up, interest rates (the most influential factor in real estate prices with supply and demand) are stable, and demand continues to grow. Besides, real estate is a local business, and national statistics rarely apply to any local market. I guess bad news sells, and it was just our turn as an industry. At last, we seem to have gotten it out of our systems. Government predictions have come out for an improved market in 2007, with rising prices expected in the second half of the year.
Daily Real Estate News January 25, 2007Analysis: Housing Activity to Pick Up SoonThe U.S. Congressional Budget Office analysis released Wednesday was relatively optimistic about the immediate future of the housing market.But before the market improves, the analysis says spending on housing will decrease through the first half of 2007 and, on average, prices for homes will also decline in the same time period. However, the agency expects both sales and home prices to edge up in the second half of the year and it projects that residential construction will pick up as well.Source: Reuters News (01/24/07)
Whatever. I say, go Bears! Go very far away. Stop predicting what the real estate market will do, and just observe what it has done: Provided shelter in every sense of the word, and appreciation, and a return of and on investment. (Maybe some of these doomsayers would like to dump their house at a fire sale price? Please call me for a free market analysis!)
posted by Cynthia Maloney at
10:45 AM
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