I always write about how important it is to look at real estate as being “localized.” National numbers continue to look extremely poor yet in our local numbers we continue to fair relatively well. An article I was reading earlier today did an excellent job at breaking down the numbers specifically to show that there are some signs that things are beginning to turn around. Nationally, the midwest market is still struggling greatly and it really brings down the overall numbers…however, most other regions seem to be turning around.

It is nice to see some good signs but to be fair…it is the time of year when we often see things begin to heat up as well. The winter is always a little slower…though this past winter could be considered a disaster in many areas. I have seen good signs recently but no matter what…as this article says…we still have a lot of inventory to work through.

I believe that it is a good time to buy…maybe it would be slightly better in the next month or two but that doesn’t mean right now is not good if you find a true bargain. One concern is that often statistics don’t show a true turn around in the market until it is already turned around. You must be pro-active and jump on the bandwagon now!

I just got an email from a client yesterday telling me how excited he was on his purchase that we found him back in February. We were able to negotiate quite a deal for him and even though the market is still continuing to struggle he has no concerns in the value of his place. I had been working with this client for months to find the right place but we were finally able to find a place and turn it into quite a deal.

With the surplus of listings on the market…don’t be afraid to get out there and keep looking…when you find a good deal you can be confident that even if it takes the market another year or so to turn around that you will still be sitting on a home that you purchased below market value. Summer is coming…more sun is showing…and it’s the perfect time to start shopping for a home. Don’t miss your chance to take advantage of the slow market before we see it has already turned around.

Have a great Thursday!

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This entry was posted on Thursday, May 1st, 2008 at 4:36 pm and is filed under Market Conditions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.