Thoughts On The Year Ahead (2010)
For the first time in many years, I found myself very busy in December. The market picked up steam at the end of the 2009. The extension of the tax credit stimulated more buyer action. Even more than that, many buyers sized up the market and decided to take advantage of low interest rates and great prices, especially at the high end. I think these opportunities continue to exist now, but won't last.
I'm optimistic about continued market recovery in 2010. If you're in a position to buy with access to credit or cash, now is the best time. Low interest rates, discounted prices and the extension of the buyer tax credit through April are all in your favor. For sellers,getting on the market now -- instead of waiting for the traditional Spring selling rush -- will likely net a better price.
The ratio of listings to buyers is lower in the first quarter, and this generally results in a higher sense of urgency for buyers and a better environment for sellers.
I'm optimistic but also realistic. Low interest rates are going to increase. Jumbo loans are challenging to secure. Job growth is key to recovery and not yet clearly on the horizon.
Successful deals in this market take time, knowledge, patience and persistence. Thankfully, this is the kind of real estate I've been practicing my entire career. I've never hurried anyone into a deal or pushed a sale that didn't make absolute sense. If you or any of your family or friends want a trusted advisor who always will keep your best interests at the forefront, give me a call. As always, thank you.