Expert Advice from Amy & Kyle Bergquist at Keller Williams Legacy Partners
The question we get more than anything else is, “Where is the real estate market going?” We try to answer with a quick recap of the current situation, and maybe some thoughts on the near future, but that’s often not enough for the questioner. They want to know the long-term direction of the real estate market. They understand that we can’t predict the future, but they ask anyway. The real answer is that nobody knows,
Economists are divided as to the direction of the national housing market. Some believe that the environment is stabilizing and that prices will increase from here. Others see further price decreases once the government support fades away. Barry Ritholz is one economist we follow regularly, through his posts on The Big Picture blog. Right now, he has a strong negative view on the future of the US housing markets. One of yesterday’s posts broke down
We just got back from the Tuesday broker’s open house tour in West Hartford. It’s always fun to see the new listings and talk with the other agents about what is going on in the market. One of the common themes right now seems to be that there are more buyers actively looking for homes than there are sellers. Many agents reported having trouble finding homes that their buyer clients are interested in purchasing. We
For last month’s market statistics post, I made this statement…”It will be interesting to see the results of November, as I feel they will also show an increase over last year as people try to jam in their closing by the November 30 $8,000 first time buyer tax credit deadline.” This was of course before we knew that they would be extending the first time buyer credit beyond November. So how did the closing numbers
October is closed out, so here’s the latest data from the CT Multiple Listing Service for single family homes, deemed reliable, but not guaranteed… My Observations… 1. Overall, the number of Closed Sales are up again, 2.6% this month, when comparing to October 2008. It will be interesting to see the results of November, as I feel they will also show an increase over last year as people try to jam in their closing by