2010 Reflections – by Dagmer Chew

Dagmer Chew, Broker/ Owner, GRI, ABR

Finishing up the year 2010 brings my reflection on the Real Estate Market in general.  We have been on a downward spiral after an over inflated few years of what some would remember as a real estate frenzy.  Ever since the close of 2005 real estate has become more and more difficult to buy and to sell.  Being overly qualified is a necessity for those looking to purchase.  No longer available is the stated income, no doc loans that were so prevalent.  People were buying beyond their means with their hopes filled with “speculation” of the market bubble never bursting. 

Now in the end of 2010 we have seen this year prove that inventory is high and interest rates are at their all time low but buyers are still moving with great caution, as well they should.  With jobs being in question the lack there of or the fear of the unknown has made many qualified buyers sit the fence.  Many second home buyers, which is our primary market share, have the old adage we don’t “need” a home so we will just wait it out till the bottom of the market hits.  Well folks it looks like we are at the bottom and the interest rates are starting to climb so there is “No better time to buy than now and no better place to be then here”.

HomeStead offers the experienced and knowledgeable agents that you need in order to navigate your way through the more challenging days ahead.  When buying or selling Real Estate Call a HomeStead professional who will guide you through the process with professionalism and ease.

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