Just like I suspected the market has taken a nose dive the past few weeks after the tax credit expired. But………
Life after the rebate has expired must go on. Things are beginning to show signs of picking up. We can only be down for so long right? We have been battered and beaten down for years and the only way we can go now is back up. banks are getting smarter about their REO inventory and not dumping it all on the market at once. Short Sales continue to be big news and that process is actually starting to improve as well.
Remember “Cash for Clunkers”? Well the auto industry had a huge increase in business when that wa going on and once it ended BOOM it stopped hard and fast. Sales dropped off like a rock thrown into a lake. But after a few months sales picked back up and now they are all back to making money again, well maybe not Toyota.
With interest rates at the lowest rates EVER this cannot last for long. The market must return to a more normal state but it may be too late for 2010 as out selling season is almost over before the usually winter slow down. My prediction a moderate rest of the year starting in August and a booming 2011 starting in the spring. Us Minnesotans have a good local economy and you need to look past the media reports at the national level. In fact screw the media all together as the get off creating fear in our world. Fear drives all of us to do things that are none productive in life. Fear controls us, period. Without fear the government would not exist and control our lives.
Of the top 20 cities in the country we have 5! 5 people, it does not get any better than this so get out there, be happy and buy a house!
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{ 3 comments… read them below or add one }
I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you down the road!
I have been selling houses in the Twin Cities since 1986 and have never seen such a spread between buyers and sellers. Sellers say they are motivated, but they have a limit as to how low they can go. Many bought in an aggressive market. Buyers have no motivation and are willing to wait and wait. The lowest interest rates since 1950 do not wet their appetite to buy. My pen might have its ink dry up before it is used to sign a purcahse agreement.
Well said Jane. Better buy some more pens huh.