Craig McKenzie
Windermere Real Estate/ Whidbey Island
Craig McKenzie | Direct: 360-929-1712 | Toll Free: 1-877-944-3239 | Email: cmckenzie@windermere.com
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Is the Market turning around?
Posted on April 11, 2008
With all this discussion about recession and the adjustable mortgage rate crisis, you may be thinking that its a good time to stay on the sidelines and as far away from the Real Estate Market as you possibly can. You're not alone in those concerns. A recent article on Realtor.com states that foreclosure filings are up 5% over February of 2007, and a whopping 57% over March of 2007.
According to the National Association of Realtors (NAR), although the first half of the year is predicted to only improve slightly, the last half should see us starting to turn things around, and next year even better.
For me personally, things have definitely started to pick up. I have several solid listings in inventory, and also have several transactions in pending status. Its not as busy as 2005 & 2006, but its definitely an improvement over the first few weeks of the year.
I suppose the bottom line is that the market is a living, breathing animal, subject to the wants and needs of consumers. And while its true there are fewer qualified buyers out there, there are still plenty of people who want and can afford to buy. And we'll continue to provide them with the best client care possible.
